Dollar demand continues to weaken shilling on Wednesday

KAMPALA - Continued interbank demand for hard currency during Wednesday’s session led to further shilling weakness during the day’s trading session.

The local currency touched lows of 3560/3570 from market opening levels of 3545/3555 per dollar.

Money markets were liquid during Wednesday’s session according to Absa as the Bank of Uganda mopped sh189b through an overnight repurchase.

The central bank held a sh205b treasury bill auction and yields in the 91-day, 182-day and 364-day tenors cleared at averages of 6.766%, 8.160% and 8.900% respectively.

Source: New Vision


Uganda scoops three international tourism awards

Uganda has been crowned this year’s Grand prix and two times gold award by the International Tourism Film Festival Africa (ITFF) for its film, Explore Uganda- The Pearl of Africa.The event which was held in Cape Town, South Africa saw Uganda’s short f…

Shilling remains weak as BOU mops sh305b excess cash

The Uganda Shilling remained weak during Thursday’s session on continued interbank and pockets of corporate demand for dollars, traders said.The local unit closed the session at the 3555/3565 levels per dollar.Money markets were liquid according to Abs…