The Uganda shilling was flat against the dollar on Wednesday, as demand for the greenback stayed low, with traders forecasting a rangebound market this week unless markets see protests over the economy turning violent. Commercial banks in Kampala quoted the local currency at 2,790/2,805 per dollar at 0840 GMT, unchanged from Tuesday's close. "The market is totally flat, demand remains down and that's keeping the shilling stable for now ... I don't see the current market stability changing in the next few days," said Lucas Ochieng, head of Treasury at Orient Bank. The shilling came under immense pressure last week, forcing the central bank to sell dollars on Friday after a surge that sent the local currency tumbling to a record low of 2,827.9. "We might see the shilling relatively stable today," said a market report from Stanbic Bank Uganda. Barclays Bank Uganda said in its market brief that the shilling might be hit by jitters over possible violence from the resumption of economic protests. Uganda's opposition is scheduled to hold a memorial rally in the capital later on Wednesday to mourn nine people killed during a security crackdown on demonstrators in April and May.

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