Uganda Shilling opens week on stable footing

KAMPALA - The Uganda shilling opened the week on a strong footing against the dollar on Monday as a result of healthy flows amid muted demand for hard currency, traders said.

The local unit opened the day’s trading at the 3570/3580 levels and closed at 3550/3560 levels, a tad stronger from last week’s session.

Money markets remained liquid according to Absa with overnight yields at averages of 6.64%.

There is a Monetary Policy meeting scheduled this month (April) which is likely to determine future shilling movements going forward.

Source: New Vision

Releated

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…

Stanbic to fund monthly oil talks

“As Uganda slowly moves closer to becoming an oil-producing nation, the likely beneficiaries need to be empowered with knowledge of both likely benefits and liabilities,” says Ann Juuko, the Stanbic Bank managing director. Oil production from the Tilen…