Uganda’s Shilling Slips First Day in 3 on Company Dollar Demand
This article is for subscribers only.
Uganda’s shilling, the world’s worst-performing currency in 2011, weakened for the first day in three against the dollar as companies bought the U.S. currency to pay for raw materials.
The currency of East Africa’s third-biggest economy depreciated 0.4 percent to 2,822 per dollar at 2:54 p.m. in the capital, Kampala, according to Bloomberg data. The shilling fell as low as 2,830 on Aug. 26, the weakest level since 1993.