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