How the shilling fared against dollar on Monday

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The Uganda shilling closed Monday’s trading at 3,567/3,557, compared to the opening levels of 3,555/3,565, in a session marked by minimal volatility.

Traders said the dollar strength was attributed to demand from corporates in the telecom and manufacturing sectors in a session which saw dull inflows.

Money markets were liquid, with interbank overnight and one-week rates averaging 9.64% and 10.11%, respectively, according to Absa market data.

In the debt market, the central bank has scheduled a treasury bill auction on Wednesday where a total of sh355b will be issued.