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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Overall, African equity capital market (ECM) activity in 2019 declined sharply both in volume and value from 2018, with 2019 posting the lowest proceeds raised in ten years. The general slowdown in equity markets was largely driven by a series of macroeconomic factors including an ECM deceleration in global 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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The Uganda shilling weakened slightly on uptick in importer demand by merchandise importers and interbank during the week ending 31st January 2020. At close of the week, the shilling was quoted at 3680/3690, a touch weaker compared to the week’s opening level of 3665/3675. In the interbank shilling market, overnight
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President Uhuru Kenyatta on Monday rang the bell to kick off the trading of Kenya’s first green bond at the London Stock Exchange (LSE). Speaking during the launch, the President urged UK investors to use Kenya as a gateway to investing into Africa and a bridge to the emerging market
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The Uganda shilling was wobbly at the end of the trading week ending January 17th 2019 undermined by elevated demand mainly from interbank as banks covered positions. Trading was in the range of 3685/3695. In the shilling money market, overnight funds quoted at 6% while one week held at 9%.
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