Business
Shilling gains marginally in Tuesday’s session
Money market liquidity remained tight, with interbank overnight and one‑week rates averaging 10.16% and 10.25%, respectively, according to market data from Absa.
During the afternoon session, the shilling strengthened further to intraday highs of 3,730/3,740. Nsubuga says the uptick in performance attracted renewed demand, leading to a modest pullback toward the 3,745 levels by the close.
By: Ali Twaha, Journalists @New Vision
KAMPALA - The Uganda shilling extended its winning streak on Tuesday, closing the session stronger at 3,740/3,750 firmer than the opening levels of 3,765/3,775.
The appreciation was largely driven by healthy dollar inflows from portfolio offshore investors, the commodity exporters, and local banks, according to Richard Nsubuga, a money market analyst.
During the afternoon session, the shilling strengthened further to intraday highs of 3,730/3,740. Nsubuga says the uptick in performance attracted renewed demand, leading to a modest pullback toward the 3,745 levels by the close.
Money market liquidity remained tight, with interbank overnight and one‑week rates averaging 10.16% and 10.25%, respectively, according to market data from Absa.