The bank has tightened liquidity controls as rising fuel costs and global tensions pile pressure on the shilling and import bill.
By
Bernard Busuulwa
Business reporter in Kampala, Uganda
Nation Media Group
Uganda’s central bank raised its Cash Reserve Ratio (CRR) from 9.5 percent to 11 percent this month in a drastic move meant to control volatile movements in the foreign currency market and tame rising import bills coupled with thinning narrow windows for both businesses and households in the short-term.
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