The Uganda shilling traded within a narrow range against the US dollar during today’s session, holding steady around 3720/3730 amid subdued market activity.
The currency remained range-bound as balanced demand and supply conditions in the interbank market kept movements contained.
In the money markets, liquidity conditions remained ample, with overnight and one-week funding rates averaging 9.75% and 10.00%, respectively. Despite the comfortable liquidity environment, the Central Bank stayed on the sidelines and refrained from conducting any liquidity management operations.
Bank of Uganda will conduct a Treasury Bond auction this Wednesday where the benchmark 3-year, 10-year and 20-year will be re-opened for a total of UGX 990 billion as auction size on offer.
