The Uganda Shilling saw a slight increase in value against the US dollar over the past week. It appreciated by 0.22%, closing at 3,688/3,698 compared to the previous Friday’s close of 3,695/3,705.
Weekly Currency Performance
During Friday’s trading session, the market experienced minimal activity. According to Absa, the trading range remained within 3,690/3,700, with little fluctuation due to limited dollar supply and demand.
| Day | USD/UGX Exchange Rate | Activity Level |
|---|---|---|
| Friday | 3,688/3,698 | Extremely quiet |
| Last Friday | 3,695/3,705 | Moderate |
Market Observations
Catherine Kijjaggulwe, head of trading at Absa, noted that the market continues to await a clear trend for the Uganda Shilling. “Markets continue to keenly wait for a clear direction regarding the unit that has been captive within the 3,680 – 3,720 trading range for a while now. Inflows have consistently been healthy and are likely to remain so as we close the month,” she said.
Money Market Conditions
In the coming week, there is no government securities auction scheduled. The money markets were reported to be liquid, with overnight yields averaging 10.21%.
| Aspect | Current Status |
|---|---|
| Government Securities | No auction scheduled |
| Money Market Liquidity | High |
| Overnight Yields | 10.21% |
