Uganda Shilling Weakens Amid Rising Demand for Hard Currency, Global Tensions
The Uganda shilling opened the month weaker, trading at 3,740/3,750 against the U.S. dollar, compared to 3,715/3,725 at the start of the previous week. The depreciation is attributed to heightened demand for hard currency from energy, manufacturing, and telecommunications sectors, despite inflows from remittances and selective portfolio investors. Richard Nsubuga,
