Uganda Shilling firms as NGOs make payments on Thursday
Written by Johnfisher on March 20, 2018
The Uganda shilling marginally gained ground against the dollar to close Thursday’s session at 3505/3515 per dollar.
Traders said “healthy flows have started to trickle through” from the non-governmental organisations (NGOs) for the usual month-end commitments.
Overall, demand for hard currency was limited during the day as corporates remitted mid-month taxes.
Money markets were liquid according to Absa with overnight yields at averages of 6.50%.
The Bank of Uganda was in the market with a sh220b treasury bill auction and yields cleared at averages of 6.662%, 8.577% and 9.701% in the 91-day, 182-day and 364-day tenors respectively…Read more
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