The local unit began the week as it had closed the previous one trading within confined ranges against the U.S. dollar. In a rather quiet day, the local unit held steady versus the greenback on the back of matching flows on both the demand and supply counters, living the USDUGX currency pair unchanged for a […]
A dearth in market activity left the USDUGX currency pair stuck within what is now a familiar furrow in Friday`s trading session. Market participants were slow off blocks, leaving the pair within the 3665-3685 on account of subdued albeit matching flows on both the supply and demand counters. We expect activity to pick up as […]
The Governor Central Bank of Kenya, Dr Patrick Njoroge has said that Africa must develop an Exchange rate policy which flexible. “Africa is the continent of the future in terms of numbers in population, workforce and the future of work. Numbers are stacked in Africa and people are here looking to make investments.” “The Exchange […]
The shilling traded relatively flat versus the greenback in what was a dull Wednesday trading session. Matching flows on both the demand and supply counters failed to stir the market and left the USDUGX currency pair little changed by the end of the day. Yesterday’s trading range will likely be preserved as market searches for […]
The Uganda shilling gained momentum against the dollar in Monday’s trading session that saw ample dollar supply. The USDUGX currency pair was steady in the morning session. Dollar sellers raided the local foreign exchange market in the afternoon session amid waning dollar demand, to help the local unit appreciate 5 shillings on the day. Looking […]
A persistent lack of dollar demand continued to boost the performance of the shilling against the dollar on Tuesday. With supply for foreign currency outweighing dollar buyers, the home unit stood tall against the greenback throughout the session. The USD/UGX pair drifted towards the lower regions of the 3670-3690 range. As the dearth in foreign […]
The Uganda shilling crept higher against the dollar on Monday, a session that saw a late uptick in market activity especially on the foreign currency supply counter. After holding steady in the morning session, the home unit inched up on the back of corporate dollar supply in afternoon trading to close the day quoted at […]
The shilling traded sideways against its American counterpart, though ending the day unchanged from previous close. Lack of economic news left most of the players sidelined with price action for the USD/UGX pair guided mostly by flows. Corporate dollar demand remained well matched by foreign currency inflows from various sectors of the economy throughout the […]
The shilling was little changed versus the dollar on Thursday, ending the day at levels similar to previous close. Fickle dollar supply by corporate players was evenly matched by a dearth in activity on the foreign currency demand counter that left the home unit stuck within the 3680/3700 trough versus the greenback. As the week […]
The tide turned in the Uganda Shilling’s favour during Wednesday’s trading session as a result of increased foreign currency inflows. A lack of dollar demand for most part of the day coupled with increased corporate activity on the supply counter exerted downward pressure on the USD/UGX currency pair to close 5 shillings lower by session’s […]
The Uganda Shilling’s movement against the U.S. dollar remained constrained within the 3680-3710 band on Tuesday. The session saw minimal activity across the counters that just about evened out on the day, with USDUGX pair closing the day unchanged from previous day’s close. The domestic unit is likely to continue trading within recent ranges as […]
The local Foreign Exchange market was quiet yesterday, with evenly matched trades keeping volatility at a minimum. Market players witnessed marginal gains on the shilling against the dollar which were momentarily reversed as the session came to a close, leaving the USD/UGX pair flat compared to previous close. Skewed liquidity in the money market space […]
The shilling closed the week a tad stronger from Monday’s opening versus its American counterpart owing to a slight increase in foreign currency inflows. The home unit traded sluggishly early in the session with most players having lightened their foreign currency positions and remaining on the sidelines ahead of the weekend. Later in the day […]