Ugandan shilling biased on weaker side as rate cut triggers pressure

• The central bank made an unexpected cut by 100 basis points to its policy rate this week.

KAMPALA: The Ugandan shilling was inclined to the weaker side on Tuesday, undermined by negative sentiment after the central bank made an unexpected cut by 100 basis points to its policy rate this week.

At 0949 GMT commercial banks quoted the shilling at 3,688/3,698, compared to Monday's close of 3,685/3,695.