Currency update from Wednesday’s session
Money markets were relatively liquid during the day with overnight and one-week trades averaging at 10.00% and 10.50%, respectively, according to Absa data.
Currency update from Wednesday’s session
By Ali Twaha
Journalists @New Vision
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Balanced demand and supply saw the Uganda shilling trade stable on Wednesday, closing at 3585 / 3595 levels.
Money markets were relatively liquid during the day with overnight and one-week trades averaging at 10.00% and 10.50%, respectively, according to Absa data.
The central bank mopped up excess liquidity from the market totaling about sh523b in an overnight repo, according to Richard Nsubuga, a market analyst.
In the debt market, activity in the secondary market remains low with no strong conviction seen on either side of the market. The Bank of Uganda will conduct a Treasury bill auction on July 30.
In the global markets, the Pound Sterling firmed against the dollar and the euro helped by the optimism across global markets after the US and Japan struck a trade deal that lowers tariffs on auto imports