Shilling holds steady amid subdued demand, external uncertainties persist
The Uganda shilling remained largely stable during the week, supported by improved investor sentiment following easing geopolitical tensions in the Middle East. Most corporates stayed on the sidelines as they prioritised shilling liquidity to meet mid-month tax obligations, limiting activity in the foreign exchange market. The local unit traded at
Uganda Shilling Weakens as Market Reverses Mid-Week Strength
The Uganda shilling gradually lost ground on Friday morning, trading at the 3550/3560 levels, compared to the 3535/3545 levels at the start of the day. Earlier in the week, the market leaned toward a stronger local unit, supported by dollar selling from commercial banks, commodity exporters, and steady inward remittances
Treasury Bond Auction Sees Yield Surge, Undersubscription at 78%
The Uganda shilling traded sideways over the past week, briefly touching session highs of 3645/3655. Mid-week tax remittances provided support for the local unit, though buying interest from entities in the energy sector applied downward pressure. The currency closed the week marginally weaker at 3655/3665. Analysts anticipate that the shilling
