It was range bound trading for the local currency. At the opening bell, UGX was stable, but ceded some ground mid week as pockets of demand emerged mainly from corporate players. Trading was in the range of 3780/3790 during the week ending April24, 2020. Towards the end of the trading
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The forex market was calm with the local unit trading flat for most of the trading sessions as market activity was at the lowest ebb. Market players were seen on the fence as demand dipped due to the lockdown. Trading was in a narrow range, holding at 3765/3775 on the
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Following a short lived rebound early in the week, the local currency fell to a weekly low, testing the resistance level of 3800,undercut by a pickup in demand from market players as risk sentiment deteriorated on account of a negative report indicating that exports declined by 8.7%, which meant minimal
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After a string of losses in last couple of weeks, the local currency took a breather. The shilling stabilized, trading in a narrow range of 3785/3795 . Demand remained subdued amid tight liquidity conditions. As part of its open market operations, the Central Bank was in the market mopping up
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After a turbulent week, the local currency recouped some of its losses on account of receding dollar demand rising hopes that a torrent of selling risk assets may have run its course. The shilling pulled back, crossing the support level of 3900, to trade at 3870/3880 at the close of
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The Uganda shilling continues to post significant losses as market swings into a panic mode driven by the uncertainty over the potential economic fallout of the Corona pandemic. On Tuesday March 24, 2020, Bank of Uganda (BoU) quoted the local unit trading at 3893.33/3903.33 against the US dollar. "The local
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The local currency was under tremendous pressure as the market swung into a panic mode driven by the uncertainty over the potential economic fallout of the Corona pandemic during the week ending March20, 2020. The shilling dropped to a record level, past the key level of 3800. BOU back to
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The Uganda shilling nursed losses on banks/ corporate driven demand, as risk aversion was the dominant theme in currency markets. During the week ending 13th March 2020, the local unit consistently traded above 3700 key level on both sides of the market, with strong indication that the market was likely
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The local currency hovered near the key level of 3700 during the week ending March6, 2020, oscillating in a narrow range, with on and off demand, mostly from corporate players as import demand remained muted on account of Coronavirus. Trading was in the range of 3790/3715. In the money markets,
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The local unit lost its upside momentum which on the average it had kept over the last four weeks, threatening to breach a key level of 3700 in the week ending February 28, 2020. The shilling was largely undermined by strong interbank demand as players were seen building positions. At
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