Bloomberg News

Ugandan Shilling Weakens for Second Day as Traders Begin Strike

July 06, 2011

July 6 (Bloomberg) -- Uganda’s shilling weakened for a second day as traders in the capital, Kampala, began a strike over the rising cost of living.

The currency of Africa’s second-biggest coffee producer fell 1.6 percent to 2,590 per dollar, bringing the loss for the continent’s worst-performing currency this year to 11 percent.

The Kampala City Traders Association said today it began a two-day strike over the increasing cost of doing business after meetings with the government aimed at ending the protest failed.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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