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…
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 /…
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…
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…
By Prof Augustus Nuwagaba (PhD), Deputy Governor Bank of Uganda There has been a lot of debate in regard to what makes a currency potent. Is it the exchange rate against the United States Dollar (USD)?; the size of the notes in your wallet?; or something else? The truth is; a strong currency starts with…
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…
