Shilling trades stable in Tuesday session

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The U.S dollar traded weaker during Tuesday’s session, pressured by ongoing geopolitical developments, commodity‑related flows, and subdued corporate demand.

Traders said most corporates remained on the sidelines amid mid‑month tax obligations.

As a result, the USDUGX pair gained on the day, closing at 3700/3710, firmer than the opening levels of 3730/3740. In the near term, the pair is expected to trade within a 3650–3780 range.

Money markets were relatively liquid, with overnight and one‑week trades averaging 9.82% and 10.38%, respectively.

Bank of Uganda will return to the Primary market tomorrow, where the benchmark 3-year, 10-year and 20-year maturities will be re-opened in an auction whose offer size is sh990b.