Uganda’s central bank said it would hold an emergency Monetary Policy Committee meeting on Wednesday.
Uganda’s shilling has been falling sharply against the dollar since August .
The shilling has recorded repeated all-time lows this month and is down more than 11% against the dollar so far this year.
The central bank has not intervened directly in the market to slow the depreciation, saying it does not target a specific exchange rate but will use a range of tools to manage excess volatility.
Source:
Reuters
