Shilling unchanged in Tuesday’s session
The Treasury Department of Exim Bank said, “The local currency was supported by end-of year corporate tax inflows and offshore participation ahead of tomorrow’s Treasury bond auction, coupled with muted demand from the manufacturing sector.”
In the money markets, liquidity conditions remained high, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.
KAMPALA - The Uganda shilling traded unchanged against the dollar in a quiet trading session, with market activity remaining subdued as corporate participants focused on meeting fiscal year-end tax obligations.
According to a report from Absa, this kept most players on the sidelines, resulting in limited market flows. The pair opened and closed the day at 3660/3670.
The treasury department of Exim Bank said, “The local currency was supported by end-of year corporate tax inflows and offshore participation ahead of tomorrow’s Treasury bond auction, coupled with muted demand from the manufacturing sector.”
In the money markets, liquidity conditions remained high, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.