Shilling closes day weaker

The shilling closed Tuesday’s session at the 3720/3730 levels – having opened the day at the 3715/3725 levels and briefly touched lows of 3730/3740 intraday.

According to Catherine Kijjagulwe, Head of Trading at Absa Bank Uganda, the session continued to see some pockets of dollar demand throughout the session with continued flow from NGOs and other sectors.

“Tight liquidity conditions in the Money Markets on Tuesday with overnight yields at averages of 10.47%. Bank of Uganda is scheduled to hold a Treasury Bill auction on Wednesday 16th August 2023,”she said.

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