The Bank of Uganda put the official exchange rate for the dollar at 3,529.39 buying and 3,539.39 selling by the close of the day. This was slightly firmer for the local currency from the opening of the day when the central bank quoted it at 3,530.22 buying and 3,540.22 selling.
Rose Mwijukye, the general manager Agip Motel, says between 50 and 100 tourists would make a stopover at the motel on a daily basis on their way to Bwindi impenetrable Forest, Queen Elizabeth national park and Rwenzori mountains before the Rwenzori clashes. According to Mwijukye, they have lost close to Shillings 100 million in two weeks because of the sudden cancellation of bookings by tourists mostly from USA.
The governor attributes the brighter economic outlook to declining inflation from 18% in June to 14.3% in July, stagnation in the domestic credit and aggregate demand, stability of the foreign exchange rate and decline in global and local commodity prices.