Currency updates from Monday's session
The local unit which had gained support last week closed the day trading at 3700 / 3710 levels compared to opening levels of 3660 / 3670.
Currency updates from Monday's session
By Ali Twaha
Journalists @New Vision
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The Uganda shilling was vulnerable Monday with pressure seen coming from portfolio investors who were trimming their bond holdings and converting local shilling proceeds into hard currency, traders said.
The price action was triggered by tariffs announced last week by US President Donald Trump according to Richard Nsubuga, a market analyst.
The local unit which had gained support last week closed the day trading at 3700 / 3710 levels compared to opening levels of 3660 / 3670.
Money markets were tight today with overnight funds averaging at 10.25% according to market data from Absa.