Currency update from Thursday’s session

________________

Demand from manufacturers and energy absorbed dollar inflows Thursday, helping the Uganda shilling to hold steady against the hard currency, traders said.

The local unit traded at 3645 / 3655 levels all day. Money markets were tight according to Absa as players preserved their shilling holdings to settle the treasury bond auction. Overnight trades averaged at 11.23%.

In the global markets, Gold prices rose more than 1% on Thursday, aided by a softer dollar and weak U.S. economic data according international media.

The dollar index slipped 0.1%, making dollar-priced gold cheaper for overseas currency holders analysts said.