By UTN Business Reporter
Kampala - The Uganda Shilling has significantly gained value in relation to the US Dollar in a space of 3 days. The Uganda Shilling by Thursday traded at 3,590.79 / 3,600.70 as compared to Tuesday at 3,591.35 / 3,601.35 buying and selling respectively.
The positive trend has largely been attributed to increased inflows of the dollar brought in by foreigners coming into the country for the IAAF World Cross Country event slated for this Sunday.
The Uganda Shillings has been flat for a while, and traded lowly.
A financial expert Lawrence Gidudu predicts that the Shillings is likely to remain constant as inflows and outflows will remain balanced The Bank of Uganda Treasury bill auction increased to up to Sh 165bn.