The Uganda shilling experienced a volatile but broadly stable week against the US dollar, as intermittent foreign-currency inflows helped offset persistent demand from corporates and offshore investors, according to Absa Bank Uganda weekly market report. According to the report, the local unit opened the week on a firmer footing, strengthening from 3 930 / 3940…
The Uganda shilling opened the month trading under pressure in Thursday’s session, weakening to new all-time lows of 3970 / 3980 in the morning, according to Absa Bank daily market report. The sharp move was largely driven by renewed interbank dollar demand, stemming from offshore investors unwinding portions of their local bond portfolios, which increased…
The Uganda shilling held steady against the dollar in today’s trading session, supported by balanced demand and supply conditions in the market, according to Absa Bank Wednesday market report. Dollar demand from corporates was adequately matched by available inflows, keeping the currency pair largely unchanged throughout the session. The dollar-shilling pair consequently closed at 3715…
The Uganda shilling traded on a slightly weaker footing against the US dollar in today’s session, as corporate demand for the greenback outweighed the limited dollar inflows observed in the market, according to Absa Bank Uganda Tuesday market report. With supply remaining relatively thin, the local unit came under mild depreciation pressure, pushing the USD/UGX…
The Uganda shilling strengthened modestly against the dollar in Monday’s trading session, appreciating from opening levels of 3915 / 3925 to close at 3910 / 3920. According to Absa Bank daily market report, the gain was primarily driven by subdued dollar demand, coupled with tight shilling liquidity conditions. In the money market, liquidity remained constrained…
The Uganda shilling traded within a relatively narrow range during today’s session. Early morning dollar inflows from commodity exporters provided support to the local unit, allowing it to strengthen to levels of 3885/3895, according to Absa Bank Uganda Wednesday market report. According to the report, these gains were reversed in the afternoon as strong offshore…
The Uganda shilling strengthened against the dollar today, supported by healthy dollar inflows from both local interbank participants and offshore investors, against a backdrop of subdued corporate demand, according to Absa Bank Uganda market report. According to the report, the shilling opened the trading session at 3925 / 3935, the local currency gradually gained ground…
The Uganda shilling opened the week trading firmer closing the day’s trading at 3925 / 3935 versus the day’s opening of 3930 / 3940, supported by subdued demand for hard currency amidst pockets of inflows from commodity exporters and charities. According to Absa Bank daily market report, the shilling remains susceptible to depreciation pressures stemming…
The Uganda shilling experienced another volatile and bearish week against the US dollar, extending its recent depreciation trend. According to Absa Bank’s weekly market report, having opened the week trading at 3895 / 3905, the shilling weakened to near all-time lows of 3945 / 3955 on Friday, reflecting about 8.3% year-to-date depreciation. Dollar demand was…
The Uganda shilling extended its losses today touching the session’s low of 3930 / 3940 in the mid-trading hours of the day before retracing, closing the day at UGX 3920 / 3930 levels, according to Absa Bank Tuesday market report. Demand was primarily driven by corporates in the energy and manufacturing sectors, with offshore participants…
