Business
How the shilling fared in Tuesday’s session
The local currency opened the day at trading at 3735 / 3745 and gradually weakened to close at 3740 / 3750.
In the money markets, liquidity conditions continued to remain ample, according to Absa, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.
By: Ali Twaha, Journalist @New Vision
KAMPALA - The Uganda shilling traded slightly weaker against the dollar in Tuesday’s session, weighed down by strong interbank demand that exceeded available supply.
The local currency opened the day at trading at 3735 / 3745 and gradually weakened to close at 3740 / 3750.
The local currency opened the day at trading at 3735 / 3745 and gradually weakened to close at 3740 / 3750.
Traders said market activity remained elevated, with increased participation from corporate players continuing to drive demand for foreign currency.
In the money markets, liquidity conditions continued to remain ample, according to Absa, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.
In the money markets, liquidity conditions continued to remain ample, according to Absa, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.