Shilling in free fall, fuel on fire

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The Uganda Shilling has crashed into uncharted territory, breaching the Shs4,100 mark against the US dollar in a historic rout that has now set fuel prices on fire, with diesel racing beyond Shs7,100 a litre.

Commercial banks on Wednesday quoted the unit at Shs4,090 buying and Shs4,100 selling, down from Shs3,960 a week ago and Shs3,604 in March. The currency has lost more than 11 percent since January, its worst run in a decade.

‘’I also directed that the policy requiring medical students to complete internship before graduating be corrected.''

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