The Uganda shilling traded weaker on Monday, undercut by elevated appetite for hard currency from importers in sectors like manufacturing, energy and telecoms, a report by Centenary Bank indicated.
Centenary Bank quoted the shilling trading at 3765/3905 buying and selling respectively on Tuesday.
The dollar held firm on Tuesday on safe haven flows, while the euro languished around a two-decade low as Europe confronts energy supply and broader economic growth concerns.
The euro touched its lowest since late 2002 of $0.9926 overnight and was last barely higher at $0.9941.
The pound was also dragged to a new 2.5-year low overnight and hobbled near that level at $1.17715 in Asia trade.
Market Outlook: The shilling is forecast to weaken against the dollar.