Currency updates from Tuesday’s session
Dollar inflows from commodity exports and other inward remittances have kept the local unit in this strong region, with an overall bias to strengthen towards 3625 support mark.
The shilling is anticipated to trade within the 3625-3700 range in the near term, traders said.
By Admin .
Journalists @New Vision
KAMPALA - The Ugandan shilling was unchanged against the dollar on Tuesday, opening and closing at 3643/3653 on the back of balanced trading activity between buyers and sellers of the hard currency.
Dollar inflows from commodity exports and other inward remittances have kept the local unit in this strong region, with an overall bias to strengthen towards 3625 support mark.
The shilling is anticipated to trade within the 3625-3700 range in the near term, traders said.
Money markets remained liquid during Tuesday’s session with overnight and one-week trading at the averages of 9.23% and 10.88%, respectively according to Absa market data.