January 2, 2018 / 9:19 AM / 9 months ago

Ugandan shilling likely to focus on policy risks in 2018

    KAMPALA, Jan 2 (Reuters) - The Ugandan shilling        was
stable on Tuesday and traders said potential lowering of rates
by the central bank could curb hard currency inflows from
offshore debt investors this year. 
    At 0824 GMT, commercial banks quoted the shilling at
3,635/3,645, unchanged from Friday's closing level. 
    Last year, the currency of Africa's biggest coffee exporter
was mostly stable in a band of 3,550-3,650 against the dollar,
supported by export earnings and foreign funds investing in the
local debt market.
    Traders said a loose central bank monetary policy that has
depressed yields on government debt could put pressure on the
shilling due to a drop in the inflows from abroad into
government securities.
    The low yields will likely push the shilling past the
psychologically key level of 3,700, said Faisal Bukenya, head of
treasury at Exim Bank. 
      
   UGX Spot Rate.....      
   Ugandan Shilling Money Guide....       
   Calculated Cross Rates..........       
   Deposits.....................          
   Deposits & Forwards.............       
   Uganda Equities Guide.......           
   Uganda All Share Index........         
   Shilling background .....              
   Ugandan Debt Guide............         
   All Uganda Bonds.............          
   Uganda T-Bills..............           
   Uganda Benchmark.............          
   Central Bank ................           
   Ugandan Contributor Index....          
   Uganda Coffee Prices.......              
     

 (Reporting by Elias Biryabarema; Editing by Duncan Miriri)
  
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