Shilling slightly weaker on June 23 final closing

The last trading day of the month was quiet overall, with the shilling closing the day at the 3665/3675 levels from the day’s opening of 3660/3670 driven by some pockets of interbank and Corporate demand. Overall, month-end flows also continued to trickle into the market, a report by Catherine Kijjagulwe, Head of Trading at Absa Bank Uganda indicated.

“Overnight yields traded at averages of 9.17% as money markets were liquid on Friday. Bank of Uganda was in the market to mop up the excess liquidity through a 6-day Repo. Bank of Uganda is scheduled to hold a UGX 255 billion Treasury Bill auction on Wednesday 5th July 2023,” she said.

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