Shilling ends month on a stable note as market liquidity boosts butlook
The Ugandan shilling closed the month trading steadily at 3660/3670 per dollar, supported by corporate demand and strong inflows from portfolio investors, exporters, and remittance firms, according to Richard Nsubuga, Ag. Head of Trading at Absa Bank Uganda. Short-term projections remain positive, with expectations of the shilling fluctuating between 3640
Ugandan Shilling Remains Stable as Kenya’s Currency Faces Pressure
The Ugandan shilling remained stable throughout the week, trading consistently at 3660/3670 per dollar. The short-term outlook appears positive, with expectations that the shilling will continue its upward trend, likely fluctuating between 3640 and 3690 in the near term. Richard Nsubuga, Trader CIB Markets at Absa Bank Uganda, noted that
Shilling Strengthens Amid Portfolio Inflows as Dollar Index Stabilizes
A combination of portfolio flows, commodity inflows, and remittances outweighed corporate demand, helping the Ugandan shilling strengthen against the U.S. dollar during the week’s trading session, according to Richard Nsubuga, Trader CIB Markets at Absa Bank Uganda. The local unit traded at 3660/3670 per dollar, improving from the week’s opening
