Traders reported that the Uganda shilling remained stable on Wednesday, with both the demand for and supply of dollars showing little activity throughout the day. The currency traded consistently at levels between 3,807 and 3,817 Ugandan shillings.
Money markets exhibited relative liquidity, with overnight rates averaging at 11.60%, as reported by Absa, a financial institution.
Across the border in Kenya, the Kenyan shilling traded in a range between 132.7 and the dollar. Meanwhile, in the global currency market, the British Pound Sterling demonstrated strength against the euro, reaching its highest level since before the mini-budget crisis of 2022.
