The Uganda shilling closed lower against the U.S. dollar on Tuesday, quoted within the 3810/3830 levels weaker than the previous close. The local currency came under pressure late in the day amid thin greenback demand from interbank players and merchant importers. We expect a familiar narrative in today’s session as foreign currency demand continues to […]
Interbank and corporate sector demand for foreign currency weakens shilling: The Uganda shilling traded lower against the U.S. dollar on Thursday amid an uptick in foreign currency demand from interbank players and the corporate sector. Commercial banks quoted the USD/UGX pair at 3700/3720 higher than Wednesday’s close of 3685/3705. Prior to the weekend, a weaker […]
BY CBA KAMPALA, Uganda–The Uganda Shilling remained on the back foot, devaluing further against its U.S dollar counterpart on Friday as greenback demand from importers and the energy sector persisted. The USDUGX pair traded within the 3732/3755 band from 3730/3750 levels earlier. This week, market charter alludes to a vulnerable local currency as dreary activity […]
BY CBA KAMPALA, Uganda–The Uganda Shilling continued its losing streak against the U.S dollar amidst sustained greenback demand from commercial banks and the energy sector at last week’s close. In what was an active day on the FX counters, the USDUGX pair found comfort at the 3710/3730 levels from 3707/3707 levels previously. Emergent foreign currency […]