Middle East tensions keep oil prices volatile
Oil prices are expected to remain elevated and volatile as persistent supply risks in the Middle East, particularly disruptions to shipments through the Strait of Hormuz, continue to unsettle global energy markets. Market attention is shifting to the upcoming OPEC+ meeting, where production targets are expected to remain unchanged, as
Shilling under pressure as dollar demand rise
The Uganda shilling came under renewed pressure last week as strong dollar demand from offshore investors and large corporate importers outweighed intermittent foreign-currency inflows, according to Absa Bank Uganda. The local currency opened the week strongly, appreciating from Shs3,930/3,940 to Shs3,895/3,905 against the US dollar as subdued hard-currency demand and
Shilling faces renewed pressure as dollar demand rises
The Uganda shilling is expected to remain under pressure in the near term as renewed demand for the US dollar from offshore investors and large corporate importers weighs on the local currency. The shilling had a volatile but broadly stable week, with intermittent foreign-currency inflows from commodity exporters, charities and
Shilling slides to 25-year low as dollar demand intensifies
The Uganda shilling weakened sharply against the US dollar this week, touching a 25-year low of 3,870/3,880 on Friday morning as strong demand for hard currency from corporates, importers, interbank and offshore players outpaced available dollar inflows. The shilling opened the week at 3,775/3,785, with dollar demand from importers and
Shilling holds steady despite dollar demand
The Uganda shilling remained broadly stable against the US dollar this week, trading within a narrow range despite sustained demand from corporates and the interbank market. The shilling opened on Monday at Shs3,770/3,780 against the dollar before closing the week marginally weaker at Shs3,775/3,785. The currency initially depreciated to Shs3,780/3,790
Shilling weakens as corporate dollar demand persists
The Uganda shilling weakened slightly against the US dollar during the week as sustained corporate demand for foreign currency outweighed available inflows, although increased receipts from commodity exporters and remittances helped limit the losses. The local currency closed the week at Shs3,715/3,725 per US dollar, compared with Shs3,705/3,715 at the
Shilling holds firm as dollar, pound face global pressure
The Uganda shilling remained relatively stable during the week as the local currency continued to draw support from improved dollar supply, while global markets weighed economic data against geopolitical tensions. The shilling traded around Shs 3,670/3,680 to the dollar during the week, compared to about Shs 3,645/3,655 previously, as demand
Shilling strengthens on strong inflows as liquidity surges
The Uganda shilling posted modest gains last week, supported by strong inflows from commodity exporters, remittances and non-governmental organisations, which offset demand for foreign exchange from corporate players. According to Richard Nsubuga, Acting Head of Trading, CIB Markets at Absa Bank Uganda, the local unit traded at 3,725/3,735 on Friday
Shilling steadies as BoU mops up excess liquidity
The Uganda shilling traded sideways against the US dollar in last week’s session, supported by a balance between demand and supply in the interbank market. Market activity showed demand for the greenback largely coming from the energy, manufacturing and telecommunications sectors, while supply was driven by commodity exporters, non-governmental organisations
Shilling weakens further as dollar demand surges
The Uganda shilling extended its losses against the dollar in Friday’s trading session, weighed down by strong demand from key sectors including energy, manufacturing and telecommunications. Market players said the greenback demand outpaced limited inflows from commodity exports, remittances and non-governmental organisations, leaving the local unit under sustained pressure. Richard
