The Kenyan shilling has for the first time crossed the Sh119 mark against the dollar. The Kenyan shilling has for the first time crossed the Sh119 mark against the dollar, triggering costly imports and higher international debt repayments ahead of Tuesday’s general elections. Central bank of Kenya (CBK)
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The Uganda shilling continues to depreciate against the US dollar as both local and external factors exert pressure on the local and other emerging currency markets. For more than a week, the shilling has just stayed short of touching the 3,900 level against the dollar, amidst sustained intervention into
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Jay Sakaria (R), the Business Development Manager at Goldstar Insurance and Moinuddin Mohammed, the Sales Manager at Hisense Uganda launching the Electronics Appliances cover Goldstar Insurance in partnership Goldstar Insurance has launched a cover for Electronic Appliances in a move that will revolutionize the insurance industry. Speaking at the launch
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The home unit opened 2021 in a downward spiral, undermined by a surge in demand from major market players taking positions ahead of the national elections. The shilling inched down to trade in the range of 3675/85 during the week ending January 8, 2021.In the regional markets, the Kenya shilling slightly
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The local currency was flat at close of week having eked out some previous gains as market players retreated in preparation of mid month tax payments. Trading remained in a narrow band of 3675/3685. In the fixed income market, it was a silent week in the absence of a primary
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The local currency traded with a mild bullish bias, gaining slightly on heightened interbank and corporate activity that saw the unit trading within a narrow range of 3690/3700 during the week ending December 4, 2020.In other domestic economic news, CPI data showed a slight drop in consumer inflation in November
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The dollar index hit an almost three-month low on Friday after strong economic data from China pushed investors toward riskier currencies and equity markets extended their rally. The dollar has fallen more than two per cent so far this month after Democratic US President-elect Joe Biden's election victory and positive
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The Uganda shilling clawed back some ground in thin trade with the money markets awash with liquidity. The home unit held steady in the range of 3680/3700. In the fixed income space, yields for a 3 year and 15 year printed at 15.50% and 15:30%, indicating an inverted yield curve.
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The local currency weakened, pausing an advance in the previous sessions that saw the currency on the gaining side. Markets players were seen earlier in the week reposition. The unit traded in the range of 3700/3710 during the week ending November 20, 2020.In the fixed income segment of the market,
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The Uganda Shilling steadied following a weakening streak that saw the unit test record levels. The shilling firmed, reflecting subdued demand that prevailed for most of the trading week. Sentiment toward the local currency was largely driven by a mix domestic factors on one part and external events, in particular
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