KAMPALA: The Ugandan shilling edged higher on Friday and was seen rangebound next week ahead of the central bank's October policy meeting.
By 0931 GMT commercial banks quoted the currency at 2,563/2,568, compared with Thursday's close of 2,570/2,575.
"Outlook generally suggests a stable shilling trading rangebound as ... markets await inflation numbers as well as policy direction from the central bank early next week," said Stephen Kaboyo, managing director at Alpha Capital Partners.
The statistics office is due to release this month's consumer price index data on Monday and is expected to be followed shortly by Bank of Uganda (BoU)'s release of October's benchmark Central Bank Rate (CBR).
This month BoU hiked the CBR by 100 basis points to 12 percent to try to prevent high food costs from filtering through and fuelling a surge in non-food prices.
Traders say they are eager to see whether inflation will again climb in September which could push BoU to tighten its policy stance further and potentially further weaken consumer spending and dollar demand.
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