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Centenary bank boss sees stable shilling in new week

Centenary Bank General Manager Financial Markets Mr. Benoni S. Okwenje

 Kampala, Uganda |  THE INDEPENDENT |  Julius Businge | Centenary Bank General Manager in charge of financial markets Benoni Okwenje says the Uganda shilling trading with other foreign currencies’ especially the US dollar will largely remain unchanged in the week that starts tomorrow. 

In a notice dated April 24, Okwenje said: “We see the shilling trading within a range of 3760 -3820 per US dollar.” 

Commenting on its performance for the week ending April 24, Okwenje said that the shilling’s performance market was relatively quiet. It moved from 3745/55 to levels of 3780/90. “Customer activity has been rather subdued and the recent moves have been largely interbank driven. It looks like a new currency support level of 3750 has been formed.” 

In the coming months, experts say, the local unit performance will depend on how fast countries relax stringent measures put in place to stop the spread of COVID-19 pandemic.

The measures in place are directly connected to the performance of the world economy. 


One comment

  1. Hi there dear friends? why these banks cant advice the president of Uganda change uganda’s currencies to the standard of East Africa because Uganda currencies has no value according to the East African community. How much money are in fifty thousand shillings (50,000)?one Ugandan shilling has no value but the rest of East African countries it has value. take example of Kenya, Tanzania, Rwanda, South Sudan, Burundi all these countries one shilling works why not Uganda.

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