Uganda shilling trades a notch stronger on Wednesday

The Uganda shilling strengthened marginally against the greenback on low appetite for dollars during Wednesday’s trading session, traders said.

The local unit closed the day’s trading at 3580/3590 a notch stronger from opening levels of 3585/3595 per dollar.

Money markets faced some tight liquidity conditions according to Absa with overnight yields at averages of 6.50%.

The Bank of Uganda held a sh220b treasury bill auction on Wednesday and yields in the 91-day, 182-day and 364-day cleared at averages of 6.662%, 8.393% and 9.801% respectively.

Source: New Vision

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