Business
Local currency stable in Tuesday's session
Traders said buying pressure was seen coming from offshore entities whose interest outperformed existing supply from commodity exporters and remittance firms.
Local currency stable in Tuesday's session
By: Ali Twaha, Journalists @New Vision
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The Uganda shilling traded under pressure Tuesday, losing 5 shillings, closing the day’s session at 3470 / 3780 levels per dollar.
Traders said buying pressure was seen coming from offshore entities whose interest outperformed existing supply from commodity exporters and remittance firms.
The Money markets remained liquid with the interbank overnight trades averaging at 9.21% according to Absa data.
The Bank of Uganda will conduct a treasury bill auction on Wednesday (October 22) worth sh355b in face value.