Uganda’s shilling advanced the most in seven months in Kampala before an unscheduled meeting of the central bank’s monetary policy committee later on Wednesday.
The currency jumped as much as 0.8% to 3,884.63 per dollar, the biggest intraday gain since Aug. 25. It traded 0.4% stronger at 10:34 a.m. local time.
The shilling has weakened since the World Bank in August announced it was suspending funding to the East African nation over its adoption of legislation that criminalizes homosexuality.
The currency fell to a record low of 3,957.50 per dollar on Feb. 26, according to data compiled by Bloomberg, and has lost about 8% of its value since the World Bank decision.
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