The Uganda shilling recovered some of the losses recorded earlier in the week, supported by a slowdown in corporate demand for the Greenback, which helped ease pressure on the local unit, according to Absa Bank Monday market report. The currency strengthened during the session, closing at 3770 / 3780 compared to opening levels of 3785…
The Uganda shilling extended its depreciation streak against the US dollar in today’s session, weighed down by sustained interbank demand for the greenback, according to Absa Bank Uganda’s Monday market report. Ongoing geopolitical tensions in the Middle East, including renewed exchanges between the US and Iran, did little to support the local currency. End-month inflows…
The Uganda shilling experienced a volatile month against the US dollar, initially appreciating before reversing course sharply toward the end of the period, according to Absa Bank Uganda weekly market report. Richard Nsubuga, the bank’s Ag. Head of Trading says the local currency opened the month at 3745 / 3755 and steadily strengthened to a…
The Uganda shilling weakened further today, depreciating from opening levels of 3735 / 3745 to close the day at 3750/3760 against the dollar, according to Thursday Absa Bank market Report. The bank’s acting Head of Trading Richard Nsubuga attributes the decline was driven to strong corporate demand for hard currency from the energy, manufacturing, and…
The Uganda shilling remained broadly stable against the dollar but exhibited signs of vulnerability, trading within the 3728 – 3738 range throughout the day, according to Wednesday Absa Bank Uganda market report. The Head of Trading at the Bank Richard Nsubuga says Dollar inflows from commodity exporters and charitable organizations continued to provide support; however,…
The Uganda shilling remained broadly stable against the dollar but exhibited signs of vulnerability, trading within the 3728 – 3738 range throughout the day, according to Tuesday Absa market report. The bank’s Head of Trading Richard Nsubuga says dollar inflows from commodity exporters and charitable organizations continued to provide support; however, these were largely absorbed…
The Uganda shilling traded marginally weaker against the dollar, closing at 3725 / 3735 compared to an opening level of 3720 / 3730, according to Absa Bank Monday market report. The modest depreciation was primarily attributed to light corporate demand for dollars in an otherwise subdued market, leaving the local unit susceptible to pockets of…
The Uganda shilling traded within a relatively narrow range during the week, posting a modest depreciation against the US dollar as sustained corporate demand outweighed available hard currency inflows, according to Absa Bank weekly market report. Early in the week, demand from the energy and manufacturing sectors and the interbank exerted pressure on the local…
Commissioning of the Kanu Primary School changing rooms and WASH facility/ courtesy photo Absa Bank Uganda and World Vision Uganda commissioned new water and sanitation facilities in Abim District, extending the impact of the Absa KH3 7 Hills Run in addressing barriers that affect girls’ participation in education across Uganda. The facilities include changing rooms…
The Uganda shilling posted a modest appreciation in today’s trading session, supported by muted dollar demand in the interbank market, according to Thursday Absa Bank market report. The local currency also benefited from sustained inflows from remittances and the commodities sector, closing at 3715 / 3725, firmer than the previous session’s close of 3720 /…
