Shilling closes slightly weaker in Wednesday’s session
Over the past week, the rate has fluctuated between lows near 3,740 and highs around 3,770. Money markets were liquid during the session according to data from Absa, prompting the central bank to conduct an overnight mop up repo where a total of sh208b was mopped out.
Shilling closes slightly weaker in Wednesday’s session
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The Uganda shilling weakened slightly against the dollar in Wednesday’s trading session. The unit traded around 3,770/3,780 driven by increased hard currency demand from offshore investors, oil marketing companies, manufacturers, and the transport sector.
Over the past week, the rate has fluctuated between lows near 3,740 and highs around 3,770. Money markets were liquid during the session according to data from Absa, prompting the central bank to conduct an overnight mop-up repo where a total of sh208b was mopped out.
In the debt market, yields at the day’s treasury bill auction edged lower across all three tenors, where the 91-day, 182-day, and 364-day papers cleared at 10.500%, 11.001%, and 12.000%, declining by 42 basis points (bps), 30 bps, and 24 bps, respectively.
In the commodities market, WTI traded around $101–103 per barrel. Brent traded around $108–110 per barrel. Reports show that oil remains significantly higher year-over-year due to earlier supply disruptions in the Middle East.
Gold traded near $4,480–4,500, with minor daily fluctuations. Gold has performed strongly in 2026, driven by safe-haven demand, central bank buying, and inflation/geopolitical hedging.