The USD/UGX pair maintained a steady tone throughout today’s trading session, supported by a well-balanced interplay between dollar demand and supply, according to Monday’s Absa Bank Uganda Market Report.
The currency opened the week at 3645 / 3655 and remained unchanged at the close, with no dominant pressure from either side of the market.
Liquidity conditions in the money market continued to improve, largely driven by government releases with overnight and one-week lending rates averaging 9.75% and 10.00%, respectively. Bank of Uganda conducted a 3-day Open Market Operation where a total of Ugx 379.60 was mopped out.
