Local currency trades stable on Friday

Sep 23, 2022

The local currency closed the day’s session at 3820/3830 levels.  

Local currency trades stable on Friday

Ali Twaha
Journalist @New Vision

The Uganda shilling traded stable on the last day of the week as dollar demand from players in the telecom, energy and manufacturing sectors was absorbed by inflows from remittance firms and offshore investors. 

The local currency closed the day’s session at 3820/3830 levels.  

Liquidity in the money markets continues to be tight according to Absa with overnight averaging at 10.99% and one-week funds at 11.30%.  

The Bank of Uganda will conduct a treasury bill auction next week worth sh285b. Decent participation is expected from market players. 

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