Currency updates from Tuesday’s session
Money markets were liquid according to Absa market report with overnight and one-week trades averaging at 10.92% and 11.30%, respectively.
The local unit closed trading at 3660 / 3670 levels, buying and selling, respectively.
Ali Twaha
Journalist @New Vision
KAMPALA - The Uganda shilling held steady against the dollar Tuesday, with corporates opting to preserve their local currency liquidity for mid-month tax obligations, traders said.
The local unit closed trading at 3660 / 3670 levels, buying and selling, respectively.
Money markets were liquid according to Absa market report with overnight and one-week trades averaging at 10.92% and 11.30%, respectively.
In the global markets, President Trump has signalled a possible delay to auto tariffs, adding to market relief after suspending levies on some consumer tech, even as he insists there are "no exceptions" and forges ahead with plans for new tariffs on the pharmaceutical and chip sectors, according to yahoo Finance.
The reports said Trump insisted that duties would soon cover phones, computers, and other major electronics.
Investors, the report said, are now watching closely to see which products and companies might win temporary exemptions.