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Dollar/Shilling trade sideways on foreign currency demand, supply
The mid-week trading session saw the USDUGX pair trade sideways as foreign currency demand and supply continue to battle for supremacy in the local FX market. Foreign currency flows from various sectors matched dollar demand leaving the local unit marooned in a tight range at the close of the session. We expect the shilling to […]
Shilling closes Tuesday slightly weaker than dollar
The Uganda Shilling closed abit weaker at the 3720/3740 levels against the U.S dollar in a day of seesaw trading on Tuesday. Today, the local unit continues to trade under pressure with the USD/UGX currency pair range-bound at the 3720/3760 levels as interbank players anticipate soaring greenback demand from the corporate sector amidst scantly foreign […]
Subdued market activity constrains Shilling’s movement against dollar
Thursday’s trading session saw the recent theme of subdued market activity continue, which constrained the local unit’s movement against the dollar to within a narrow trading band. The USD/UGX currency pair oscillated between the 3685- 3705 ranges as dwindling dollar supply from various counters balanced out with corporate foreign currency demand. We see limited market […]