The Uganda Shilling has crashed into uncharted territory, breaching the Shs4,100 mark against the US dollar in a historic rout that has now set fuel prices on fire, with diesel racing beyond Shs7,100 a litre.
Commercial banks on Wednesday quoted the unit at Shs4,090 buying and Shs4,100 selling, down from Shs3,960 a week ago and Shs3,604 in March. The currency has lost more than 11 percent since January, its worst run in a decade.