Uganda Shilling steady on continued dollar supply

KAMPALA - The Uganda shilling opened the week on a strong footing as dollar supply continues to surpass market demand, traders said.

The local unit opened Monday’s trading week at the 3540/3550 levels and continued to strengthen to close the day at the 3525/3535 levels per dollar.

Money markets were liquid according to Absa as the Bank of Uganda mopped up sh182b excess cash in a three-day repurchase.

The Bank of Uganda will hold a sh205b treasury bill auction tomorrow (April, 12).

Source: New Vision

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