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
Read MoreThe home unit was kept on the edge, mildly dropping, knocked by sustained demand against lacklustre flows. Out turn was also in line with market expectation that the shilling would remain bearish based on the global perspective that as the US went into elections, the uncertainty around the election results
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The Uganda shilling was on the back foot as demand mostly from merchandise importers surged midweek and drove the local unit to test record lows of 3730/50 during the week ending October 30, 2020. In the fixed income market segment, yields on government bonds edged higher on both 2 year
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The local unit nursed losses as demand surged early in the week mainly from the corporate sector. At the close of the week, pressure had eased with quotes on both counters holding 3705/3715. In the fixed income market, government securities yields marginally dipped on the short end of the curve,
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The local currency hit pockets of volatility in early trade but price action became less intense towards the end of week as demand subsided. Mid month tax payments did little to support the unit. Trading was in the range of 3700/3710 during the week ending October15, 2020.In the fixed income
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It was choppy trading for the local currency during the week, with no clear established trend. In the early sessions, the shilling held up supported by portfolio flows targeting the government securities market, but later lost steam and weakened as demand rebounded. On the counters the shilling traded within a
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The Uganda shilling tumbled to trade near a two month low undermined by a surge in corporate and importer demand as the country opened up its entry points. At the counters the local currency quoted at 3715/3725. In the fixed income market, the yields on 5 and 15 year bonds
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