(Kampala) – The Uganda shilling opened and closed Thursday’s trading session unchanged, holding steady at 3665/3675 against the U.S. dollar. According to market traders, Thursday’s session saw limited activity with a balanced demand and supply of dollars in the market. This stability was largely attributed to corporate entities focusing on mid-month tax payments, which kept dollar demand in check.
Traders anticipate similar market conditions on Friday, with subdued trading likely to continue until the next week when activity is expected to resume as tax obligations are settled.
The money market also saw tight liquidity, with overnight borrowing rates standing at 11.5%, based on data from Absa Bank.
