Business
Shilling posts slight weakness on low activity
Traders said the modest depreciation was primarily attributed to light corporate demand for dollars in an otherwise subdued market, leaving the local unit susceptible to pockets of buying interest.
Shilling posts slight weakness on low activity
By: Ali Twaha, Journalist @New Vision
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The Uganda shilling traded marginally weaker against the dollar, closing at 3725 / 3735 compared to an opening level of 3720 / 3730.
Traders said the modest depreciation was primarily attributed to light corporate demand for dollars in an otherwise subdued market, leaving the local unit susceptible to pockets of buying interest.
Traders said the modest depreciation was primarily attributed to light corporate demand for dollars in an otherwise subdued market, leaving the local unit susceptible to pockets of buying interest.
Overall market activity remained muted, with limited interbank flows and cautious participation keeping the currency within a narrow trading range, according to the Absa market report.
In the debt market, the Bank of Uganda will conduct a Treasury bond auction on Wednesday (August 26) where a total of sh990b will be offered, reopening the benchmark 2-year, 5-year and 15-year maturities.
In the debt market, the Bank of Uganda will conduct a Treasury bond auction on Wednesday (August 26) where a total of sh990b will be offered, reopening the benchmark 2-year, 5-year and 15-year maturities.