Business
Currency updates from Thursday’s session
Traders said balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range.
Currency updates from Thursday’s session
By: Ali Twaha, Journalist @New Vision
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The Uganda shilling remained largely unchanged against the dollar during Thursday’s trading session, trading at 3705/3715 buying and selling, respectively.
Traders said balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range.
Traders said balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range.
“Odds for the near term point to cooled pressures on the shilling, keeping the unit range-bound,” Stephen Kaboyo, managing director at Alpha Capital, said.
Liquidity conditions in the money market continued to improve, according to Absa, supported by recent government releases, with overnight and one-week lending rates averaged 9.75% and 10.00%, respectively.
Liquidity conditions in the money market continued to improve, according to Absa, supported by recent government releases, with overnight and one-week lending rates averaged 9.75% and 10.00%, respectively.