Shilling Weakens on Corporate Dollar Demand as Global Pressures Mount
The Uganda shilling traded under sustained pressure this week, weighed down by persistent corporate demand for the US dollar and limited foreign currency inflows. Market activity showed that dollar supply from entities settling end-of-financial-year tax obligations was insufficient to support the local unit. At the same time, offshore investor appetite
Shilling strengthens on dollar inflows, improved investor sentiment
The Uganda shilling strengthened during the week, supported by robust dollar inflows from commodity exporters and offshore investors, even as corporate demand remained subdued. Market players noted that many corporates opted to preserve shilling liquidity to meet their end-of-financial-year tax obligations, easing pressure on the local unit. The shilling traded at
Stable Shilling Masks Rising Liquidity and Borrowing Pressures
The Uganda shilling remained broadly stable against the US dollar during the week, trading within the 3,755–3,775 range. However, signs point to potential appreciation in the near term, as corporate demand is expected to ease, with many firms conserving shilling liquidity to meet end-of-financial-year tax obligations. The currency pair was
Uganda Shilling Holds Steady Amid Global Economic Uncertainty
The Uganda shilling remained stable against the US dollar over the week, trading within the 3765/3775 range, unchanged from its opening levels, according to Richard Nsubuga, Acting Head of Trading, CIB Markets at Absa Bank Uganda. He attributed the stability to a balance between demand and supply in the foreign
Uganda Shilling Gains as Dollar Demand Eases
The Uganda shilling registered gains this week, a move largely attributed to subdued demand for the currency amidst inflows from commodity exporters, remittance firms and charity organizations. The local unit was seen trading stronger at 3765 / 3775 levels compared to the week’s opening of 3778 / 3788 levels. Looking
Shilling slides further as dollar demand surges, global tensions bite
The Uganda shilling has continued its losing streak, weakening to 3775/3785 against the US dollar this week, down from 3750/3760 at the start of last week, as demand for hard currency tightened its grip on the market. Traders say the pressure came mainly from heavy dollar demand by corporates in
Shilling Weakens Slightly Amid Dollar Demand, Global Uncertainty
The Uganda shilling weakened slightly this week, trading at 3,750/3,760 against the US dollar, compared to the previous week’s opening of 3,745/3,755. The depreciation was largely driven by increased demand for hard currency from offshore players and the local interbank market, while corporate players remained on the sidelines, holding shillings
Shilling firms on steady inflows as global risks lift dollar and oil
The local currency held firm over the week, supported by steady inflows from commodity exporters, remittances and selective portfolio investments. The shilling strengthened to 3745/3755, compared to last week’s close of 3765/3775. Despite sustained foreign currency demand from corporates in manufacturing, energy and telecom sectors, pressure was not strong enough
Shilling Weakens as Global Tensions Rattle Markets
The local currency remained under pressure during the week, weighed down by sustained dollar demand from corporates, local banks and select offshore players. As a result, the shilling weakened to close the week’s trading at around 3755/3765, compared with 3715/3725 in the previous week. Dollar inflows from commodity exporters and
Shilling weakens as dollar demand intensifies, global tensions rattle markets
The Uganda shilling came under renewed pressure during the week, weighed down by sustained dollar demand from corporates, commercial banks and select offshore players, market analysts have said. By Friday, the local currency was trading at around 3,715/3,725, weaker than the previous week’s close of 3,695/3,705. According to Richard Nsubuga,
