{{Uganda’s central bank intervened for the second time this week on Wednesday to support the shilling after the currency was weighed down by heavy demand for dollars, traders said.}}<\/p>\n
Bank of Uganda started selling dollars in early trade after the shilling dropped to 2,655\/2,665, the weakest level since February 2013. By 0725 GMT, it strengthened to 2,650\/2,660, where it had closed on Tuesday.<\/p>\n
Housing Finance Bank trader Robert Mpuuga said demand for the U.S. currency from telecoms and energy companies weakened the shilling.<\/p>\n
“The pressure forced the central bank to intervene and offer it (the shilling) some support,” said Mpuuga.<\/p>\n
The central bank also intervened on Monday.<\/p>\n
The shilling has weakened about 5 percent against the dollar this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Uganda’s central bank intervened for the second time this week on Wednesday to support the shilling after the currency was weighed down by heavy demand for dollars, traders said.}} Bank of Uganda started selling dollars in early trade after the shilling dropped to 2,655\/2,665, the weakest level since February 2013. By 0725 GMT, it strengthened […]<\/p>\n","protected":false},"author":3,"featured_media":2000053035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[99],"byline":[334],"hashtag":[],"class_list":["post-15337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-greatlakesnews","byline-igihe-reporter"],"bylines":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"contributors":[{"id":334,"name":"IGIHE Reporter","slug":"igihe-reporter","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":null}],"featured_image":{"id":2000053035,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15337.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=15337"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000053035"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=15337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=15337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=15337"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=15337"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=15337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}