Uganda, Nov. 14 -- The shilling appreciated slightly against the dollar during August and October after experiencing more than six months of volatility, according to Bank of Uganda.

The local unit, which had gained some stability at the end of July, gained by 0.2 percent in the two months to October supported by a decline in global commodity prices and tightening of the monetary policy by Bank of Uganda.

However, Dr Adam Mugume, the Bank of Uganda director for research, told Monitor at the weekend that movement in the position of the shilling - appreciation or depreciation - will largely depend on how the global economy behaves and how government handles the rising cost of external debt repayment.

The shilling has been under pressure p...