• Oct 15, 2021 . 1 min Read
  • Strong dollar demand piles pressure on Uganda shilling

Strong dollar demand piles pressure on Uganda shilling
Ali Twaha
Journalist @New Vision

The Uganda shilling continued to weaken during Thursday’s session opening the day at 3590/3600 and weakened to close at lows of 3605/3615.

Traders said the weakening was driven by offshore, interbank and corporate demand for dollars.

Money markets were fairly liquid, according to Absa Trading with overnight yields at averages of 6.86%. 

The Monetary Policy Committee left the benchmark lending rate unchanged at 6.50%.

ADVERTISEMENT

Related Articles
(adsbygoogle = window.adsbygoogle || []).push({});