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 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 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
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 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
