Currency market update from Wednesday’s session
Apr 17, 2024
Bank of Uganda accepted slightly more than sh720b against the auction offer amount of sh520b.
Money markets were tight today with short-term funding averaging around 12.05% according to Absa traders.
Ali Twaha
Journalist @New Vision
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KAMPALA - The Uganda shilling was marginally stronger on Wednesday after remittance inflows offered support, traders said.
The shilling closed the day trading at 3813 / 3823 levels stronger than the day’s opening at 3825/3835 levels.
Money markets were tight today with short-term funding averaging around 12.05% according to Absa traders.
Meanwhile, yields on today’s well-subscribed primary treasury bond auction edged higher compared to the last auction held in January 2024.
The benchmark 2-year and 10-year bonds cleared at 13.750% and 16.000% reflecting an upward shift of 55 basis points (bps) and 50bps respectively.
Bank of Uganda accepted slightly more than sh720b against the auction offer amount of sh520b.
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