Dollar claws back more gains on Wednesday

_______________

The dollar extended its winning streak against the Uganda shilling in Wednesday’s session. Traders said the dollar's gain was largely driven by strong offshore demand that outweighed commodity and remittance inflows.

The Uganda shilling closed the day trading at 3630 / 3640 levels compared to the day’s opening of 3605 / 3615.

Money markets remained liquid, with interbank overnight rates averaging 9.62% according to Absa market data. The central bank conducted a treasury bill auction where a total of sh313.94b was accepted.