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.
The Ugandan shilling edged up on Friday after the central bank mopped up excess liquidity from the money market triggering a liquidity squeeze.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
We now challenge presidents, it's sweeter – Datti Baba-Ahmed brags
President Tinubu resumes work at Aso Villa office
Ooni of Ife sends message to President Tinubu
Tinubu clarifies his statement on subsidy as petrol price rises to ₦600 per litre
Petrol queues resurface, marketers sell ₦350 per litre
EFCC, DSS fight over shared office building in Lagos
Court convicts Osun hotelier after finding him guilty of k*lling OAU ex-student
Kalu urges Tinubu to scrap Ministry of Niger Delta Affairs
What will the fight against corruption look like under Tinubu’s government?
ADVERTISEMENT