The Uganda shilling surrendered some ground, undercut by a surge in dollar demand from offshore buyers, oil and merchandise importers. The local unit traded just above the 3600 key level for most of the trading sessions.Currency markets in general have not escaped the steep losses and wild swings seen across other asset classes with many facing massive downward pressure.In particular, the Kenya shilling weakened to a new record low due to rising global energy prices triggered by the Ukraine war, touching levels of 114.05/25.In the global markets, the current geopolitical shock is serving as a catalyst to trigger mean reversion…
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