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 and closed the day at 3660/3670.
In the money markets, liquidity conditions remained high, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively.
The Bank of Uganda was active in the market through a 2-day repurchase agreement (REPO) operation to support liquidity management.
