How currency, stock market fared on Wednesday
Jul 05, 2023
According to Absa currency traders, this was “driven by some demand pockets but flows in the afternoon led it to close the day at 3685/3695.”
How currency, stock market fared on Wednesday
Ali Twaha
Journalist @New Vision
The Uganda shilling weakened briefly during Wednesday’s session to touch levels of 3690/3700, having opened trading at 3680/3690.
According to Absa currency traders, this was “driven by some demand pockets but flows in the afternoon led it to close the day at 3685/3695.”
Overnight yields in the money market were at averages of 9.92% as the central bank mopped sh223b in an overnight repo.
The Bank of Uganda held a sh255b treasury bill auction on Wednesday (July 5) and yields in the 91-day, 182-day and 364-day tenors cleared at averages of 10.198%, 11.001% and 12.002% respectively.
Stock markets performance
Turnover at the Uganda Securities Exchange (USE) rose to sh139.1m from sh8.2m traded on Tuesday according to market data from Crested Capital.
MTN exchanged a turnover of sh105.3m, Stanbic dealt sh33.5m and Bank of Baroda (BOBU) traded sh299,000.
MTN’s share price increased 2.86% to sh174.98 and BOBU gained 0.69% to sh16 while Stanbic remained firm at sh26.00.