The Uganda shilling remained stable against the dollar in today’s trading session, trading at 3775 / 3785 levels all day, according to Monday’s Absa Bank market report.
The currency’s stability was largely supported by balanced market flows, with demand for dollars from importers and corporate players being adequately matched by inflows from exporters, remittances, and other market participants.
In the money markets, liquidity conditions continued to remain ample on the back of maturities with overnight and one-week lending rates averaging 9.70% and 9.95%, respectively. The Central Bank was active in the market today, mopping up excess liquidity through its Open Market Operations.
Bank of Uganda will conduct a Treasury Bond auction worth UGX 990 billion this Wednesday where the new benchmark 3-year and 20-year bonds will be issued. Additionally the benchmark 10-year bond will be reopened.
