Uganda Shilling Weakens to Record Low as Dollar Demand Persists

Uganda’s shilling weakened to its lowest level on record against the dollar as demand for the greenback from offshore investors and importers put renewed pressure on the local currency.

By Fred Ojambo and Ray Ndlovu · Bloomberg Markets

Uganda’s shilling weakened to its lowest level on record against the dollar as demand for the greenback from offshore investors and importers put renewed pressure on the local currency.