The Ugandan shilling fell on Monday amidst a surge in demand for the greenback by commercial banks as business activity resumes after the holidays.
Shilling weakens on higher demand for dollars
"We're seeing demand in the interbank in anticipation of that dollar appetite."
Ugandan shilling weakens on higher demand for dollars
At 0904 GMT, commercial banks quoted the shilling at 3,385/3,395, weaker than Thursday's close of 3,365/3,375.
"Firms are expected to start (dollar) buying as they return from holidays," said Faisal Bukenya, head of market making at Barclays Bank.
UGX Spot Rate..... Ugandan Shilling Money Guide.... Calculated Cross Rates.......... Deposits..................... Deposits & Forwards............. Uganda Equities Guide....... Uganda All Share Index........ Shilling background ..... Ugandan Debt Guide............ All Uganda Bonds............. Uganda T-Bills.............. Uganda Benchmark............. Central Bank ................ Ugandan Contributor Index.... Uganda Coffee Prices.......
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
NCDMB: My failure to inflate budget by ₦30bn cost me my job - Wabote
Russian Deputy Defence Minister, Ivanov detained for accepting large bribes
CSO threatens to sue if NBC fails to ban same-sex content on Netflix, TikTok
Keyamo orders swift suspension of Dana Airlines' fleet by NCAA over safety
Akapbio wants judges involved in misusing ex-parte orders to be punished
Kaduna Assembly begins probe on El-Rufai's govt, demand details of transactions
Tinubu approves takeoff of Consumer Credit Scheme
Ex-Sokoto governor's son volunteered statements without promises - EFCC witness
Soludo's wife wants Nigerians to farm at their backyards to cut costs of living
ADVERTISEMENT