It was a day of quiet trading during Wednesday’s session with the Uganda shilling remaining overall weak against the dollar.

The unit traded within the 3590/3600 level per dollar throughout the session. Demand for dollars from interbank and pockets of offshore investors continue to pile pressure on the home unit according to traders. 

Money markets were liquid according to Absa Trading with overnight yields at averages of 6.63%. Bank of Uganda mopped up the excess liquidity through an overnight Repo.

The Central Bank held a sh220b treasury bill auction in which yields in the 91-day, 182-day and 364-day tenors cleared at averages of 6.901%, 8.506% and 10.001% respectively.