The Uganda shilling strengthened against the U.S. dollar, reversing some of the losses recorded earlier as dollar demand softened following market turbulence triggered by tensions in the Middle East. According to Absa Bank Uganda Thursday market report, increased dollar sales in the interbank market supported the local currency, with the shilling closing at 3680/3690 compared…
The Uganda shilling was unchanged against the dollar in a quiet trading session, with market activity remaining subdued as corporate participants focused on meeting fiscal year-end tax obligations. This is according to Absa Bank’s Tuesday Market report. The market activity kept most players on the sidelines, resulting in limited market flows. The pair opened…
The Uganda shilling surged against the dollar to close the week at the 3455/3465 levels from the opening of 3487/3497, a consistent and spectacular performance throughout the week that saw significant portfolio inflows that were sold directly into the spot market, marking the shilling’s strongest level in 9 years, last seen in October 2016. According…
