Currency updates from Monday’s session

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The Uganda shilling was a tad stronger Monday on the back of healthy dollar inflows from offshore investors and remittance firms, traders said.

The local unit closed Monday trading at 3595/3605 to the dollar compared to the day’s opening of 3600/3610.

Money markets were liquid with overnight trades averaging at 8.78%, while one week at 9.93% according to Absa. The Bank of Uganda will this Wednesday conduct the last treasury bill auction of the current Financial Year, where a total of sh355b will be offered.

In the global markets, the U.S. dollar slipped slightly lower Monday as traders monitored the ongoing Israel-Iran conflict, at the start of a week that includes a number of central bank policy-setting meetings, including the Federal Reserve.