The perpetual decline of the shilling continued with the unit touching record lows, inching towards the 3900 levels as offshore investors dollar demand coupled by oil importers demand intensified. The exchange rate remains a key variable in Uganda’s economy; therefore, the sustained depreciation will continue to pose serious economic challenges. In most emerging economies, markets made cautious gains as investors mulled over a possible slowdown in the pace of US Federal Reserve rate hike. In the global markets, the US Federal Reserve jacked up its benchmark rate by three quarter of a percentage point in an effort to cool the…
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