Interbank, offshore demand weakens Uganda
Traders say The demand for dollars from interbank and offshore players during Thursday’s trading session led to the marginal weakening of the Uganda shilling.
The local unit closed the day’s session at the 3525/3535 levels from opening levels of 3510/3520 per dollar.
Traders noted that month-end flows were also outweighed by the demand.
Money markets faced tight liquidity conditions according to Absa with overnight yields between 6.00% - 7.50% levels.
Source: Daily Monitor | Image: Manor FX
