Dollar gains slightly against Uganda shilling
Money markets were liquid, with the interbank overnight and one-week funding trades that averaged at 10.18% and 10.92%, respectively.
Dollar gains slightly against Uganda shilling
By Ali Twaha
Journalists @New Vision
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The Uganda shilling marginally lost ground against the US dollar, closing the day at the 3565/3575 levels from the opening of 3563/3573.
As the local unit continues to retreat, the session on Wednesday saw more balanced trading activity. Traders said the currency pair upside momentum was checked by dollar-selling interest from commodity exporters and some commercial banks in the first half of the day.
A cautious market stance loomed in the late afternoon, according to Absa traders, which may signal chances of further depreciation of the local unit. Overall, the shilling is still rangebound and is projected to trade within the 3525-3600 range in the near term.
Money markets were liquid, with the interbank overnight and one-week funding trades that averaged at 10.18% and 10.92%, respectively.
The Bank of Uganda has not scheduled any securities auction this week. However, the market anticipates maturities of sh999b in repos and BOU Bills as well as sh10.9b in treasury bills tomorrow on August 21, 2025.