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Markets

Ugandan shilling weakens due to commercial bank dollar demand

At 1041 GMT, commercial banks quoted the shilling at 3,800/3,810, compared to Tuesday's close of 3,770/3,780.
08 Apr 2020
  • At 1041 GMT, commercial banks quoted the shilling at 3,800/3,810, compared to Tuesday's close of 3,770/3,780.

KAMPALA: The Ugandan shilling weakened on Wednesday, undercut by an uptick in demand from commercial banks who expect the local currency to lose more ground in the days ahead as the coronavirus outbreak hits the export sector.

At 1041 GMT, commercial banks quoted the shilling at 3,800/3,810, compared to Tuesday's close of 3,770/3,780.