Business
Shilling gains marginally in Tuesday’s session
Traders said the session was largely driven by inflows from commodity exporters and remittances, which outweighed demand from the manufacturing and telecom sectors.
The currency pair is expected to remain within the 3530 -3620 trading range in the near term.
By: Ali Twaha, Journalists @New Vision
KAMPALA - The Uganda shilling strengthened against the US dollar during Tuesday’s session, closing at 3560/3570 levels compared to the opening of 3568/3578.
Traders said the session was largely driven by inflows from commodity exporters and remittances, which outweighed demand from the manufacturing and telecom sectors.
The currency pair is expected to remain within the 3530 -3620 trading range in the near term.
Money market liquidity remained tight, according to Absa, with interbank overnight and one-week rates averaging 10.45% and 10.94%, respectively.
The market anticipates sh89.715b in coupon maturities this week.