Shilling experiences slight pressure on Monday
Money markets were liquid, with interbank overnight and one-week funding trades averaging 10.00% and 10.29%, respectively, according to Absa.
Shilling experiences slight pressure on Monday
By Ali Twaha
Journalists @New Vision
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The Uganda shilling experienced slight pressure on Monday due to increased demand from corporations taking advantage of dips in the currency pair. By the end of the day, the local currency closed at 3,555/3,565 against the dollar, showing a minor decline from the opening levels of 3,553/3,563.
Traders said the shilling is projected to trade within the 3525-3600 range in the near term.
Money markets were liquid, with interbank overnight and one-week funding trades averaging 10.00% and 10.29%, respectively, according to Absa.
Bank of Uganda (BOU) has not scheduled any securities auction this week; however, the market anticipates maturities of sh445.6b in repos and BOU Bills as well as sh10.9b in treasury bills.