Business
Currency update from Wednesday’s session
Traders said the local currency also benefited from continued inflows from remittances and the commodities sector, closing at 3720/3730 compared to the previous session's close of 3725 / 3735.
Liquidity conditions in the money markets improved further, aided by government releases, according to Absa market report.
By: Ali Twaha, Journalist @New Vision
KAMPALA - The Uganda shilling strengthened against the US dollar in Wednesday’s trading session, supported by subdued greenback demand from most corporate players.
Traders said the local currency also benefited from continued inflows from remittances and the commodities sector, closing at 3720/3730 compared to the previous session's close of 3725 / 3735.
Traders said the local currency also benefited from continued inflows from remittances and the commodities sector, closing at 3720/3730 compared to the previous session's close of 3725 / 3735.
Liquidity conditions in the money markets improved further, aided by government releases, according to Absa market report.
The average overnight and one-week lending rates eased to 9.75% and 10.00%, respectively, although the central bank refrained from any open market operations, traders said.
The average overnight and one-week lending rates eased to 9.75% and 10.00%, respectively, although the central bank refrained from any open market operations, traders said.