April 9 – April 16, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

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The local unit was volatile, trading near a 3 and half year high against the greenback, breaching the key support level of 3600. The shilling hit that level in the last quarter of 2017 when it traded at 3659/3600. Factors that drove the sharp appreciation were largely a general slowdown in demand and seasonal conversions.While in the region, the currency of Uganda’s largest trading partner follo