Currency update from Tuesday’s session
Money markets were liquid according to Absa data prompting the Central Bank to conduct a 2-day mop-up repo.
The shilling closed the day trading at 3690 / 3700 levels stronger than the day’s opening of 3700/3710.
Ali Twaha
Journalist @New Vision
KAMPALA - The Uganda shilling registered some gains Tuesday on the back of strong dollar inflows from commodity exporters and subdued demand, traders said.
The shilling closed the day trading at 3690 / 3700 levels stronger than the day’s opening of 3700/3710. Money markets were liquid according to Absa data prompting the Central Bank to conduct a 2-day mop-up repo.
In the global currency market, the U.S. dollar weakened against major currencies, including the yen and euro, according to Reuters.
China's offshore yuan hit a record low on Tuesday amid trade disputes sparked by President Donald Trump's sweeping tariffs that have roiled markets for three days.
The report shows that the Japanese yen and Swiss franc continued to benefit from appetite for safe-havens as investors remain concerned about the potential for a global recession.
The EURUSD was last up 0.1% at $1.091375, down from an earlier rise of more than 0.7%, after falling for the two previous days.