A stronger local currency benefits more than simply merchants keeping an eye on the foreign exchange market; it basically benefits every contributor to the economy.
A currency that maintains its value may lower the cost of everything from gasoline and technology to medications and raw materials in local currency for economies in Africa that are highly dependent on imports.
Stronger currencies can result from quite varied economic situations, as seen by recent moves in South Africa and Uganda.
Due to foreign cash inflows from charities and commodities exporters, Uganda's shilling has been strengthening.
Reuters reported on August 20 that it was trading between 3,715 and 3,725 per dollar.
