The Uganda shilling strengthened against the US dollar in today’s trading session, supported by subdued greenback demand from most corporate players, according to Absa Bank Uganda’s Wednesday market report. According to the report, the local currency also benefited from continued inflows from remittances and the commodities sector, closing at 3720/3730 compared to the previous session’s…
The shilling weakened further today as interbank participants moved aggressively to cover short dollar positions amid sustained hard currency demand from corporate clients, according to Absa Bank daily updates. Strong demand from the energy and manufacturing sectors continued to weigh on the local unit, outweighing inflows from remittances and commodity exporters. As a result, the…
Despite some support from remittance inflows and commodity exporters, the Uganda shilling weakened against the dollar on Monday, according to Absa daily market report. According to the report demand from the energy and manufacturing sectors continued to exert pressure on the market. The shilling closed at 3715/3725, softer than last week’s close of 3705/3715. Money…
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…
The Uganda shilling posted notable gains against the US dollar during today’s session, closing firmer at 3705/3715 from opening levels of 3720/3730. The move was largely supported by strong dollar supply on the interbank market. Furthermore, mid-month tax remittances underpinned demand for the local currency, while corporate dollar demand remained largely on the sidelines. In…
The Uganda shilling traded within a narrow range against the US dollar during today’s session, holding steady around 3720/3730 amid subdued market activity. The currency remained range-bound as balanced demand and supply conditions in the interbank market kept movements contained. In the money markets, liquidity conditions remained ample, with overnight and one-week funding rates averaging…
The Uganda shilling strengthened modestly last week, supported by robust hard currency inflows from commodity exporters, remittances, and non-governmental organizations, which outweighed prevailing demand for foreign exchange from corporate entities. According to Absa Bank Uganda weekly market report, the local unit was quoted at 3725 / 3735 on Friday morning, compared to 3745 / 3755…
The Uganda shilling strengthened against the US dollar in Wednesday’s trading session, supported by optimism surrounding the de-escalation of political tensions in the Middle East, according to Absa Bank Report. The local currency opened the day at 3730 / 3740 and appreciated to an intraday high of 3725 / 3735. In the money markets, liquidity…
The Uganda shilling traded slightly weaker against the dollar in today’s session, weighed down by strong interbank demand that exceeded available supply, according to Absa Bank Uganda Tuesday Market Report. The local currency opened the day at trading at 3735 / 3745 and gradually weakened to close at 3740 / 3750. Market activity remained elevated,…
The Uganda shilling strengthened against the US dollar in today’s trading session, supported by optimism surrounding the de-escalation of political tensions in the Middle East, according to Monday Absa Bank Uganda Market Report. The local currency opened the week at 3740 / 3750 and appreciated to an intraday high of 3725 / 3735. However, renewed…
