Currency update from Wednesday's session
Absa traders reported dollar inflows from commodity exporters were sufficient to contain existing demand from corporates in the manufacturing and energy sectors.
Currency update from Wednesday's session
By Ali Twaha
Journalists @New Vision
_______________
The Uganda shilling was stable Wednesday with both demand and supply seen squaring during the session.
The pair closed the day stable at 3585 /3595 levels. Absa traders reported dollar inflows from commodity exporters were sufficient to contain existing demand from corporates in the manufacturing and energy sectors.
Money markets were liquid with overnight trades averaging at 8.13%, while one week at 10.00%.
In the debt market, the secondary market was muted as players opted to stay on the sidelines waiting for the treasury bond auction outcome, which was expected before end of day.
During the day's session, the Bank of Uganda conducted a treasury bond auction where the 3-year, 10-year and 15-year benchmarks were issued for sh990b on offer.