Shilling holds steady in Tuesday’s session against dollar
Experts say the market anticipates a total of sh957b in maturities of Treasury bills, September 2029 Treasury bond coupon, Bank of Uganda Bills, and 7-Day Repo.
The market also saw subdued demand for hard currency from the energy and manufacturing sectors, and this was sufficiently matched.
By Ali Twaha
Journalists @New Vision
KAMPALA - The Uganda shilling extended its consolidative price pattern against the dollar around the 3500-mark, closing at the 3493/3503 levels from the opening of 3495/3505 with notable dollar selling interest from commercial banks and commodity exporters in the afternoon of the session on Tuesday.
The market also saw subdued demand for hard currency from the energy and manufacturing sectors, and this was sufficiently matched. The local unit is still anticipated to trade within the 3480-3530 range in the near term.
The money markets were liquid, Absa data shows, with the interbank overnight and one-week rates averaging at 9.27% and 9.63%, respectively.
Experts say the market anticipates a total of sh957b in maturities of Treasury bills, September 2029 Treasury bond coupon, Bank of Uganda Bills, and 7-Day Repo.
The Bank of Uganda has scheduled a treasury bill auction with sh355b on offer on Wednesday this week.