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Local unit edges higher against foreign counterpart
The Uganda shilling edged higher against its foreign counterpart on Monday due to ebbing dollar demand from interbank players. In what was a relatively active day on the FX counters, the USD/UGX pair found comfort at the 3690/3710 levels from Fridays close of 3700/3720. Today a similar narrative is likely to ensue alongside muted activity […]
Shilling trades within confines of dollar during calm trading
The shilling traded within confined ranges against U.S. dollar on a rather calm Tuesday trading session. The session saw the home unit little changed versus the greenback on the back of minimal but matching flows on both the demand and supply counters. We expect the local unit to trade within the 3740-3790 levels, as the […]
Dollar trickles lower as U.S., China sign trade deal
The shilling waffled to the weaker side by the closing bell yesterday as demand for the greenback dominated the trading session. Foreign currency inflows that gave the home unit a boost earlier in the day seemed to have fizzled out leaving the home unit weighed down by reviving dollar appetite from interbank players. Looking ahead, […]