Ugandan shilling posts gains on inflows from charities

KAMPALA: The Ugandan shilling gained on Tuesday, helped by inflows from non-governmental organisations and lower demand for dollars among importers.

At 0923 GMT, commercial banks quoted the currency at 2,610/2,620, slightly up from Tuesday's close of 2,615/2,625.

"I am seeing a bit of inflows coming in from NGOs, so the shilling is getting a boost from that," said David Bagambe, a trader at Diamond Trust Bank.

"However, demand generally is also very weak and then we have pockets of liquidity tightness in the market," he said.

The shilling is down 3.4 percent against the greenback in the year to date.