{UAH} Hon. Emelia Kyambadde: Make Yuan convertable/tradeable into UG Shilling

Major trading parterns with Uganda currently are Dubai (old vechiles), China, European Union. Trading with this coutries should be fully conducted in their national currecies.

Uganda should follow what Tanzania is doing out law use of the dollar as legal tender on Uganda market which creates its own market distortion. of course plus other measures like controlof dollar outflow that has made Uganda a grand casino of maoney changers.

Bwanika

On Fri, Jul 3, 2015 at 5:01 AM, Dan Bwanika <bulemezi@gmail.com> wrote:

In fact, it is very possible for China and East Africa to agree that all trade should be conducted into local currency to reduce demand over supply for dollars.
 
Most of the merchandise sold in uganda come from China

However the Yuan is not readly convertable into Uganda shilling (why?!) though you can buy the Japanese YEN on the open market

The East African countries should come with stringent laws agianst the use of the dollar in local trade as it has so happened in Tanzania. This must go hand in with control of dollar out flow specifically with construction , banking and mobile phone companies.

Bwanika

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Bwanika Nakyesawa Luwero

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Bwanika Nakyesawa Luwero

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