Shilling posts marginal loss in Thursday’s session

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The Uganda shilling posted a marginal loss during Thursday’s session, closing at sh3,535/3,545, weaker from the opening levels of sh3,530/3,540 per dollar.

The session’s performance was driven by offshore selling interest, commodity-driven inflows, and subdued corporate demand. The pair is expected to trade within the sh 3,500–3,580 range.

Liquidity conditions remained relatively ample, according to Absa, with interbank overnight and one-week rates averaging 9.90% and 10.30%, respectively. The Bank of Uganda (BOU) conducted an open market operation, mopping up sh1.04 trillion through a 7-day repo and issuances of 28-, 56-, 84-, and 252-day BOU bills, the report said.