Muted importer demand for dollars supports Ugandan shilling

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KAMPALA (Reuters) – The Ugandan shilling held steady against the dollar on Tuesday mainly due to sluggish demand for hard currency by importers.

By 0703 GMT, commercial banks quoted the shilling at 3,705/3,715, unchanged from Monday’s closing level.

Reporting by Elias Biryabarema; Editing by Duncan Miriri

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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