Currency update from Thursday’s session
In the global markets, Oil prices jumped following escalating tensions between Israel and Iran that began last Friday. Brent crude prices rose about $5 higher than before Israel’s strikes.
Currency update from Thursday’s session
By Ali Twaha
Journalists @New Vision
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Traders said the Uganda shilling was relatively weak Thursday, with demand pressure seen coming from firms in the manufacturing sector.
The shilling closed the day trading at 3600 / 3610 levels. Money markets were liquid with overnight trades averaging at 9.31%, while one week at 10.16% according to Absa data. The Bank of Uganda stayed out of the money markets.
In the global markets, Oil prices jumped following escalating tensions between Israel and Iran that began last Friday. Brent crude prices rose about $5 higher than before Israel’s strikes.
The US dollar edged higher Thursday, lifted by safe-haven demand as the Middle East conflict threatens to escalate in the wake of the latest Federal Reserve policy meeting.
Media reports indicated that Israel and Iran exchanged fresh air bombardments on Thursday, as speculation mounts that President Donald Trump is set to bring the US into the conflict between the two countries, which is now entering its seventh day of fighting.