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Markets

Ugandan shilling firms, helped by liquidity squeeze

Published Updated

imageNAIROBI: The Ugandan shilling firmed on Wednesday, helped by commercial banks trimming their greenbacks positions amid diminishing demand and a local currency liquidity squeeze.

At 0746 GMT commercial banks quoted the shilling at 3,310/3,320, stronger than Tuesday's close of 3,320/3,330. The central bank said it will inject an undisclosed amount of liquidity into the money markets on Wednesday.

Copyright Reuters, 2016

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