Bloomberg News

Uganda Will Take ‘Appropriate’ Action to Support Currency

October 19, 2011

Oct. 19 (Bloomberg) -- Uganda’s central bank will take “appropriate” steps to support the shilling, though it hasn’t decided on whether to follow neighboring Kenya in limiting the foreign exchange exposure of commercial banks, Elliot Mwebya, spokesman for the bank, said.

Policies suitable for Kenya aren’t necessarily ideal for Uganda, Mwebya told reporters in the capital, Kampala, today.

To contact the reporter on this story: Fred Ojambo in Kampala at fojambo@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net


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