Markets

Ugandan shilling weakens due to higher dollar demand

Published June 22, 2016 Updated June 22, 2016 09:37am

1 min

By Imad Uddin

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KAMPALA: The Ugandan shilling weakened on Wednesday as commercial banks bought dollars to cover their positions ahead of a potential British vote to exit the European Union.

At 0837 GMT, commercial banks quoted the shilling at 3,365/3,375, slightly down from Tuesday's close of 3,360/3,370. Britons vote in a referendum on the country's membership in the EU on Thursday.

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