Business
Shilling continues to weaken on Wednesday
Traders said the dollar's appreciation was driven by demand from the telecom and manufacturing sectors, alongside subdued corporate inflows.
Shilling continues to weaken on Wednesday
By: Ali Twaha, Journalists @New Vision
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The greenback recovered some of its earlier losses against the Uganda shilling during Wednesday’s trading session, closing at 3765/3775, stronger than the opening levels of 3755/3765.
Traders said the dollar's appreciation was driven by demand from the telecom and manufacturing sectors, alongside subdued corporate inflows.
Money market liquidity remained tight according to Absa data, with interbank overnight and one‑week rates averaging 10.09% and 10.38%, respectively.
In the debt market, Wednesday's treasury bond benchmark 2‑year, 5‑year, 15‑year, and 25‑year maturities cleared at 13.499%, 15.000%, 15.750%, and 16.290%, respectively. The central bank accepted a total of sh928b in face value.