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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The local currency weakened slightly against the dollar after opening the week relatively flat. Mid week market activity resulted in uptick in demand mainly driven by corporate players and interbank . Week closing quotes were at 3670/80 compared to opening levels of 3665/75. In the fixed income segment, a bond
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The Uganda shilling held steady on the back of the Central Bank decision to keep the Central Bank Rate (CBR) unchanged at 9%. “The neutral action generated a positive sentiment for the currency,” says Stephen Kaboyo, an analyst and Managing Director at Alpha Capital Partners. Market players quoted the shilling
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The Uganda shilling nursed losses on the back of elevated demand as commercial banks were seen building positions during the week ending 7th February 2020. The local unit opened the week stable but mid week the currency was in bearish territory trading at 3680/ 90 compared to opening levels of
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