The Uganda shilling continued to trade under pressure today, primarily driven by sustained corporate demand amid weaker dollar inflows, according to Wednesday Absa Bank Uganda Market report.
Additionally, offshore investor appetite for foreign currency remained elevated amid global dollar strength. The unit closed the day trading at 3705/3715, softer compared to the opening levels of 3685 / 3695.
In the money markets, liquidity conditions continued to remain ample, with overnight and one-week rates averaging 9.75% and 10% respectively.
