By Patrick Kagenda
The Uganda shilling opened the trading week ended Jan. 24, 2014, on a stable note and maintained a stable trading with a strong tone breaking through the resistance level of Ushs 2500 to the dollar driven by larger than expected foreign currency inflows on account of export proceeds and portfolio flows.
At the Alpha Capital Partners, the Managing Director Styephen Kaboyo said, “this happened due to lack of demand, as commercial banks were seen cutting long positions adding to the supply. BOU intervened on Thursday Jan 23, 2014, into the market on the buy side in an effort to halt the shilling slide, which action eased the appreciation pressure a bit
