Business
Shilling faces slight pressure in Tuesday’s session
Money markets were liquid in Tuesday’s session, according to Absa data, prompting the Bank of Uganda to conduct open market operations through the sale of Bank of Uganda bills. Overnight funds averaged 9.75%.
The shilling is expected to remain vulnerable to demand from corporates in the coming days, traders said.
By: Ali Twaha, Journalist @New Vision
KAMPALA - The Uganda shilling came under mild pressure against the dollar in early trading on Tuesday, weakening from 3775 / 3785 to an intraday low of 3785 / 3795 amid strong interbank dollar demand.
The shilling is expected to remain vulnerable to demand from corporates in the coming days, traders said.
The shilling is expected to remain vulnerable to demand from corporates in the coming days, traders said.
Money markets were liquid in Tuesday’s session, according to Absa data, prompting the Bank of Uganda to conduct open market operations through the sale of Bank of Uganda bills. Overnight funds averaged 9.75%.
In the debt market, the Bank of Uganda will conduct a Treasury Bond auction worth sh990b tomorrow (September 9), where the new benchmark 3-year and 20-year bonds will be issued. The benchmark 10-year bond will also be reopened.
In the debt market, the Bank of Uganda will conduct a Treasury Bond auction worth sh990b tomorrow (September 9), where the new benchmark 3-year and 20-year bonds will be issued. The benchmark 10-year bond will also be reopened.