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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The Uganda Securities Exchange (USE) has suspended the trading of Kenya Airways shares due to the ongoing ownership restructuring. Paul Bwiso, the Chief Executive Officer at USE says Kenya Airways PLC is currently undergoing equity and debt restructuring and to facilitate the conclusion of the transaction without disrupting the price
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The Uganda Shilling strengthened and registered substantial gains in the week ending 10th November 2017 in what was seen as market correction after overshooting through key support levels due to sentiment related to political uncertainty in the region. Trading was in the range of 3610/3620. In the money markets, there
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The Uganda shilling was volatile in the early part of the week ending 3rd November 2017, but later stabilized as corporate and interbank demand fizzled out. Trading was in the range of 3650/3660. A week earlier, the Uganda shilling drifted in narrow range after hitting a near two year low as
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The Uganda shilling drifted in narrow range after hitting a near two year low as a result of the Central Bank intervention that was triggered by demand pressures during the week ending 27th October 2017. Trading was in the range of 3655/3665 during. Market players remained square to long, taking a
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