Negative sentiment, dollar demand hit shilling

The shilling has come under significant pressure and has shed value against the dollar to trade at 3,591.63/3,601.63 buying and selling respectively at mid-day on 9th March 2017 from 3383.56/3393.56 at the end of September 2016, according to Bank of Uganda data. For every dollar, Ugandans must now fork out an extra sh209 in a space of just six months as the green buck keeps strengthening against the shilling.