Currency updates from Tuesday’s trading session
May 07, 2024
The markets were fairly liquid with overnight yields trading at 11.92%
Uganda shilling touched highs of 3745/3755
Ali Twaha
Journalist @New Vision
Tuesday’s trading session saw the Uganda shilling touch highs of 3745/3755 due to continued healthy flows and muted dollar demand.
The unit opened the day’s session to the 3755/3765 levels. According to Absa traders the unit “later reversed the trend and closed the session at the 3760/3770 levels triggered by some interbank, offshore and corporate paying interest in the afternoon session”
The markets were fairly liquid with overnight yields trading at 11.92%. The Bank of Uganda is scheduled to hold a treasury bill auction on May 8, 2024.
Amounts on offer in the auction are: sh15b on the 91-day bill, sh40b on the 182-day, and sh180b on the 364-day bill.
In the previous auction (April 24, 2024), yield rates advanced on all the papers, with the 91 -day bill up 988.79 basis points (bps) to 10.002%, the 182-day bill rose 415.80 bps to 12.500%, and by 162.59 bps to 13.501% on the 364-day bill.
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