Currency updates from Monday’s session

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The Uganda shilling registered marginal gains Monday on the back of subdued corporate demand which triggered some selling interest in the interbank market.

The local unit closed the day trading at 3655 / 3665 levels compared to the day’s opening of 3660/3670.

Money markets opened the week liquid according to Absa with overnight and one-week trades averaging at 10.80% and 10.88% respectively.

Bank of Uganda stayed out of the repo market. The Central Bank will conduct a treasury bill auction this Wednesday worth sh355b.

In the global markets, the US dollar fell by 0.4% to 99.6 against a basket of its currency peers according to reports.

The Taiwan dollar raced to its strongest level in almost three years on Monday, extending a multi-day run of gains.

In the crypto market, Bitcoin slipped in holiday-thinned trade on Monday, remaining largely within a trading range established over the past week as traders sought more definite cues on U.S.-China trade talks and the economy.

Bitcoin fell into a holding pattern over the past week- between $92,000 to $97,000- as a rebound through late April ran out of steam.