The Ugandan shilling was weakened on Tuesday on the back of higher appetite for hard currency from manufacturing firms and commercial banks closing short positions, traders said.
Shilling weakens on manufacturers' dollar demand
At 0920 GMT, commercial Banks quoted the shilling at 3,380/3,390, down from Monday's close of 3,373/3,383.
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![Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'100'%20height%3D'100'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "Zimbabweans have 21 days to exchange old banknotes for new ones (image used for illustration) [Reuters]")
The Ugandan shilling edged up on Friday after the central bank mopped up excess liquidity from the money market triggering a liquidity squeeze.
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