Bank of Uganda explains weak shilling

ByaseL · 2011-06-23T08:59:00+00:00

The Eurozone debt crisis is the major cause of the turbulent exchange rate, which pushed the shilling to a record low of 2,478 on Tuesday, the Central Bank clarified on Tuesday. While the US economy is not yet fully on its feet, four major European economies Greece, Portugal, Spain and Ireland are battling a financial meltdown. Because of this, investors holding assets and other investments in euros are converting them into dollars. This has caused an unprecedented demand for the dollar, making it more expensive internationally.

Thread starter ByaseL
Start date Jun 23, 2011

ByaseL

JamiiForums uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.

Accept Learn more…

Back

Top Bottom

Forums

New posts

Bank of Uganda explains weak shilling

ByaseL

JF-Expert Member

Our Community

Regional Communities