Business
Shilling trades below 3500 levels Tuesday
The money markets were liquid on Tuesday, with the interbank overnight and one-week trades averaging at 9.67% and 10.13%, respectively, according to Absa data.
The local unit closed at the 3,495 / 3,505 levels compared to the opening levels of 3,500/3,510. Traders expect the shilling to trade within the 3480 – 3550 range in the near term.
By: Ali Twaha, Journalists @New Vision
KAMPALA - The Uganda shilling hovered around the 3500 handle in a session that saw balanced trading activity on Tuesday, consolidating the gains that have been gradually booked over the last two weeks.
The local unit closed at the 3,495 / 3,505 levels compared to the opening levels of 3,500/3,510. Traders expect the shilling to trade within the 3480 – 3550 range in the near term.
The money markets were liquid on Tuesday, with the interbank overnight and one-week trades averaging at 9.67% and 10.13%, respectively, according to Absa data.
The central bank has scheduled a treasury bill auction with sh355b on offer this week on Wednesday, while the market expects sh1,242 billion in repo maturities, Bank of Uganda bills, and Treasury bills.