The Uganda shilling pared back some of the losses recorded earlier in the week, supported by subdued dollar demand and a renewed influx of foreign currency supply on the interbank market, according to Thursday Market Report by Absa Bank Uganda. The local unit found footing as corporate dollar demand remained relatively light. The USD/UGX pair…
By Richard Nsubuga, Head of Trading Absa Bank Uganda The Uganda shilling registered gains during the week with support seen coming from strong dollar inflows from commodity exporters and offshore investors amidst demand from corporates who preferred to reserve their shilling liquidity as they pay their end of Financial Year tax obligations. Additionally, positive headlines…
By Richard Nsubuga, Head of Trading Absa Bank Uganda The Uganda Shilling registered decent gains on Tuesday in a session that was dominated by strong inflows from the offshore, commodity and the local corporates amidst the waning demand attributed to the end of financial year tax payments and the ongoing easing geopolitical tensions in the…
