Uganda shilling little changed against dollar

KAMPALA (Reuters) - Uganda's shilling was little changed versus the U.S. currency on Monday due to end of month demand, but dealers said it was likely to firm this week.

At 1000 GMT, the local unit changed hands at 1,870/75 against the greenback from Thursday's close of 1,872/77. Friday was a public holiday in the east African country.

"It's just end of month flows and demand is subdued," said one dealer at a leading commercial bank.

A Reuters poll last week showed analysts expect the shilling to firm to 1,825 per dollar next year. Dealers said they expected the shilling to trade in the 1,865-75 range over the coming days.

The currency slid nearly 40 percent from levels seen late last year as the global downturn saw foreign investors scramble for dollars. But it has strengthened since June.

"Down the line, we expect a stronger shilling," said Luigi D'Souza of Crane Bank.