Uganda raises cash reserve ratio after shilling hits two-year low
Uganda’s central bank increased the cash reserve requirement for commercial banks following recent sharp weakening of the shilling, which has traded near its lowest level in more than two years against the USDUGX measure.
Uganda's central bank has increased the cash reserve requirement for commercial banks after the local currency weakened sharply, with the shilling recently trading near its lowest level in more than two years. The shilling FX_IDC:USDUGX has come under pressure in recent weeks as manufacturers and ener…