Markets

The local currency was stable at opening session of the week but slightly weakened mid week on the back of uptick in demand mainly from the manufacturing sector and retail business. The shilling later recovered and the market pared gains with bid and ask at 3665/3675. In the fixed income,

The local currency held firm supported by the Central Bank open market operations that creamed off excess liquidity creating a stable short term outlook during the week ending August21, 2020.  On the supply side improved inflows mainly from tea and coffee added to the stability stance. The shilling traded at

The Uganda shilling remained stable as demand was dented by mid month tax payments that kept corporates out of the market during the week ending August 14, 2020. Bid and ask held at 3670/80. In the fixed income market, relatively good yields continued to lure both local and foreign investors

The local currency traded unchanged, holding firm for most of the trading sessions on the back of offshore portfolio flows that improved supply conditions in the market. Bid and ask for the shilling was at 3683/93.In the fixed income market, yields on government bonds of 2 and 5 year printed

 The local currency was a touch firmer compared to the week’s opening levels driven, mainly by improved flows from end month charity conversions and a trickle in of export flows. Trading was confined in a range of 3682/92.The debt market saw TB rates remaining flat, but on the upward at

The local currency hit a volatility patch, trading on the back foot undermined by elevated demand but later in the week as appetite for the dollar diminished, the shilling found its level at 3685/95. In the interbank money market, overnight quotes stood at 3% while one week funds were at

The local currency traded marginally stronger in the week ending July17, 2020, pulling away from the key technical level of 3700, with both counters trading below that level as supply conditions improved, against subdued demand. Bid and ask quotes were at 3685/95. With the prevailing minimal volatility, markets were anticipating

The local currency traded marginally stronger against the dollar as the market witnessed very low appetite for the hard currency as economic activity remained subdued. The bid and ask quotes held at 3708/3718. The shilling interbank market remained awash with liquidity as overnight rates Hoover’s around 3% while one week