Uganda Central Bank Sells Foreign Currency After Rate Hike
The Bank of Uganda said it was selling an undisclosed amount of foreign currency after a rate hike failed to stem shilling losses.
Uganda’s central bank said in a notice to banks on Thursday that it was selling an undisclosed amount of foreign currency in the market. “BOU (The Bank of Uganda) is in the FX market on the sell side,” the notice said, without further details. Uganda’s shilling, FX_IDC:USDUGX, has been under…