Uganda Shilling Faces Pressure as Zambia Kwacha Gains
The Ugandan shilling is expected to weaken as an Ebola outbreak impacts tourism and oil prices drive energy sector demand. Meanwhile, Zambia's kwacha is forecast to extend gains behind strong copper exports while the Nigerian naira and Kenya shilling remain stable.
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Uganda's shilling faces selling pressure through next Thursday as an Ebola outbreak reduces tourism inflows and energy costs rise. Commercial banks quoted the currency at 3,763 per United States dollar on Thursday. The currency's outlook depends on foreign-currency demand from the energy sector and the impact of the health crisis on tourism.
