Local unit weakens on offshore, corporate demand

The Uganda shilling weakened marginally during Monday’s trading session due to some pockets of corporate and offshore demand for hard currency, traders said.

The shilling closed the day’s session at 3577/3587 from opening levels from 3575/3585 per dollar.

Money markets were fairly liquid according to Absa with overnight yields trading at averages of 6.830%.

Source: News vision