Kenya, Uganda currencies stable
Kampala/Nairobi – The Ugandan shilling was stable yesterday, unresponsive to the central bank slashing its key lending rate by a percentage point to 16 per cent, but traders said it was seen weakening in coming days.
Commercial banks quoted the shilling at 3,360/3,370, unchanged from Friday’s close.
Both the Uganda and Kenya units rallied yesterday, and are expected to stay range bound in coming days. (Net photo)