Business
Shilling trades firmer on Thursday
Traders said market activity remained subdued, largely driven by interbank selling pressure amid weak corporate demand for the dollar.
Shilling trades firmer on Thursday
By: Ali Twaha, Journalists @New Vision
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The Uganda shilling closed marginally firmer on Thursday, closing the day’s session at 3687/3697 compared to the opening level of 3690/3700.
Traders said market activity remained subdued, largely driven by interbank selling pressure amid weak corporate demand for the dollar.
In the near term, market analysts project that the shilling will continue trading within the 3660–3800 range.
Money markets were sufficiently liquid, according to Absa data with overnight and one-week rates averaging 9.63% and 10.31%, respectively.