Ugandan shilling unchanged on low demand, seen marginally weaker

KAMPALA: The Ugandan shilling was unchanged on Thursday amid mild demand for the dollar, though traders said it could fall slightly in the coming days as market activity picks up in the new year.

At 1040 GMT commercial banks quoted the shilling at 3,380/3,390, unchanged from Wednesday's close. Stephen Kaboyo of Alpha Capital Partners said there were "some pockets of demand seen from market players as they squared their positions ahead of year end".

He said that in the first trading week of 2016 the "shilling will likely remain stable with mild depreciation bias as market activity resumes".