08-04-2025
Ugandan shilling stable, US tariffs increase interbank dollar demand
KAMPALA, April 8 (Reuters) - The Ugandan shilling was broadly stable on Tuesday, but was under a little pressure as U.S. President Donald Trump's trade tariffs triggered a surge in dollar demand among interbank players, traders said.
At 0931 GMT commercial banks quoted the shilling at 3,704/3,714, compared to Monday's close of 3,702/3,712.
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"The broad market view is that there will be dollar scarcity going forward on expectation that dollar flows will fall because of trade disruptions and hence the need to build long dollar positions," said a market note from Alpha Capital Partners, a Kampala-based fund manager.
