Currency update from Thursday’s session
Projections from traders are that the local unit to trade within the 3570-3630 range in the near term.
Currency update from Thursday’s session
By Ali Twaha
Journalists @New Vision
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The Uganda shilling posted marginal gains against the dollar on Thursday, closing at the 3582/3592 levels from the openings of 3585/3595 on the back of subdued trading activity.
Projections from traders are that the local unit to trade within the 3570-3630 range in the near term.
Money markets were liquid during the day’s session prompting the Bank of Uganda to mop up a total of sh 311b in excess liquidity via the 7-Day Repo, the 28-Day, 56-Day, and 84-Day BoU Bills according to Absa data.
The overnight and one-week funding trades averaging at 9.96% and 10.44%.