Uganda, Feb. 24 -- The economic performance outlook for the country released by the Finance ministry has shown that the Uganda Shilling last month depreciated by 0.64 percent, trading at an average mid-rate of Shs3,805.03/US$ from Shs3,780.66/US$.

The ministry says this was due to high demand for the dollar from manufacturing, oil, telecom and energy firms. It also adds that there was a reduction in the lending rates for both Shilling and foreign currency-denominated credit from 16.79 percent and 8.96 percent last November to 16.70 percent and 8.79 percent respectively last December. This was partly due to the relatively low and stable inflation.

Yields (interest rates) on Treasury Bills remained unchanged for the 91 and 182-day tenors ...