KAMPALA: The Ugandan shilling traded stable on Friday amid a slowdown in both supply and demand of foreign exchange, traders said.

At 1025 GMT commercial banks quoted the shilling at 3,815/3,825, same level as Thursday’s close.

Ugandan shilling weakens on uptick in importer demand

“Usually, towards the festivities, the market expects healthy flows from NGOs and remittance flows, and this is still anticipated in the coming weeks,” Catherine Kijjagulwe, head of trading at Absa Bank Uganda said in a market note.