Shilling remains stable on Tuesday

The Uganda shilling remained stable against the dollar but exhibited signs of vulnerability, traders said.

The local unit traded within the 3728/3738 range throughout the day. Dollar inflows from commodity exporters and charitable organisations continued to provide support, according to a market report from Absa.

“These inflows were largely absorbed by demand from corporates in the manufacturing and energy sectors,” the report said.

The Bank of Uganda is scheduled to conduct a Treasury bond auction on Wednesday (August 26) with a total of sh990b on offer through the re-opening of the benchmark 2-year, 5-year, and 15-year maturities.