How the shilling traded during the week
Oct 25, 2024
The currency is projected to remain stable between 3650-3700 levels until supply or demand activity changes according to Richard Nsubuga, a currency market analyst.
How the shilling traded during the week
Ali Twaha
Journalist @New Vision
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During the week, the Uganda shilling gained 0.24% against the US Dollar, closing the week at 3,660/3,370 compared to 3,669/3,679 last week.
The currency is projected to remain stable between 3650-3700 levels until supply or demand activity changes according to Richard Nsubuga, a currency market analyst.
On Friday, dollar demand and supply was subdued as traders closed off for the weekend to close the week trading steady at 3660 / 3670 levels.
Liquidity remained tight in the money markets according to Absa market report with overnight averaging at 11.29%.
Bank of Uganda is scheduled to hold a treasury bond auction on October 30. Tenors on offer are 2 years, 5 years, and 15 years.