The Uganda shilling strengthened against the US dollar in today’s trading session, supported by robust inflows from the commodities sector, month-end remittances, and Not-for-Profit organizations, which kept the market well supplied with dollars.
According to Absa Bank daily report, as a result, the local currency appreciated to close firm at 4230 / 4240 from opening levels of 4265 / 4275.
In the money markets, liquidity conditions improved following government disbursements of approximately UGX 400 billion at the end of last week. The resultant increase in shilling liquidity helped ease pressures, with funding rates averaging 12.27%.
