The Uganda shilling remained largely unchanged against the US dollar during Thursday trading session, hovering around 3705/3715 in a quiet market environment.
According to Absa Bank report, balanced demand and supply dynamics in the interbank market kept the currency trading within a narrow range.
Liquidity conditions in the money market continued to improve, supported by recent government releases. As a result, overnight and one-week lending rates averaged 9.75% and 10.00%, respectively.
The Bank of Uganda was active in the market today through its weekly open market operations, mopping excess liquidity via Bank of Uganda bills and repo instruments.
