Bitcoin resumed its slide Thursday, dipping below $14,000 as the cryptocurrency’s dizzying drop from a record set 10 days ago intensified. The latest blow to the world’s biggest cryptocurrency came from South Korea, where the government said it was eyeing options for stamping out a frenzy of speculation, including a potential
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The Uganda Shilling strengthened against the dollar on the back of strong inflows mainly from Diaspora and nongovernmental organizations during the week ending 22nd December 2017. Demand remained muted in a market slowdown ahead of the holidays. Trading was in the range of 3600/3610. In the money market overnight funds
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The Uganda Shilling remained stable but leaning towards a mild appreciation on the back of inflows from NGOs and Diaspora remittances amid sparse trading during the week ending 15th December 2017. Trading was in range of 3605/3615. This is ahead of Monday’s Monetary Policy meeting which is expected to continue the
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The Uganda shilling strengthened marginally, primarily supported by Central Bank mopping up of excess liquidity in the money markets amidst low demand for the greenback during the week ending 8th December 2017. Trading was in range of 3610/3620. In the coming week, Bank of Uganda will hold the final Monetary Policy
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Bank of Uganda (BoU), the regulator of Forex bureaus has said Amin Forex Bureau Exchange Ltd is no longer allowed to transact business after its license expired and wasn’t renewed. In a statement issued on Wednesday December 6, 2017, BoU Deputy Governor Dr. Louis Kasekende said: “Amin Forex Bureau Ltd
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The Uganda Shilling was relatively stable bolstered by end month conversions amid low market demand the week ending 1st December 2017. Trading was in the range of 3620/3630. In the interbank, liquidity remained high with overnight rate dropping to 7.5% while one week traded at 9.5%. In other economic news, Inflation continued
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African telecommunications group Econet is considering selling shares on the London Stock Exchange at a valuation of about $8 billion (UShs29.1 Trillion) next year after combining new and existing assets, according to people familiar with the matter, reports Bloomberg. That valuation would be based on an enlarged company, partly forged through
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During the week ending 24th November 2017, the Uganda Shilling maintained a strong foothold despite pockets of demand that emerged from corporates and interbank towards the close of the week. In the early part of the week there were improved inflows in the market mainly from exports and NGO's that
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The Kenyan shilling strengthened, the Eurobond rallied and the stock market remained cagey after the Supreme Court upheld President Uhuru Kenyatta’s win on Monday morning. Reuters quoted the shilling at 103.60/80 per dollar after the unanimous verdict was delivered, from 103.80/90, where it was trading earlier. Analysts say that the
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The Uganda Shilling held firm amid subdued demand as most corporates stayed out of the market on account of mid month tax payments during the week ending 17th November 2017. Trading was in the range of 3630/3640. In the interbank money market, there was plenty of liquidity. Bank of Uganda held
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