On Tuesday, the Uganda shilling experienced a slight weakening, concluding trading at levels of 3807/3817 compared to the opening rates of 3800/3810.
According to Absa traders, the local unit faced pressure from demand coming from corporates and offshore players.
Despite this, money markets displayed relative liquidity, with overnight rates observed to be trending at averages of 11.95%.
Financial experts anticipate that this week’s coupon payments and bond maturity could lead to an improvement in the liquidity outlook in the near future.
