Currency update from Thursday’s session
Money markets were liquid, prompting the Central Bank to conduct a 7-day repo mop-up. Overnight and one-week trades averaged at 10.57% and 11.55% respectively, according to Absa market report.
Currency update from Thursday’s session
Ali Twaha
Journalist @New Vision
__________________
The Uganda shilling saw little change during the day as dollar appetite continued to wane, traders said. The local unit traded at 3655/3665 levels all day.
Money markets were liquid, prompting the Central Bank to conduct a 7-day repo mop-up. Overnight and one-week trades averaged at 10.57% and 11.55% respectively, according to Absa market report.
In the global currency market, the U.S. dollar rose Thursday, retaining some strength after the Federal Reserve highlighted stagflation risks at its latest meeting, prompting traders to push out the chance of near-term rate cuts.
In crypto currency market, Bitcoin topped $100,000 on Thursday for the first time since early February. According to reports, the rally was supported by a wide-ranging deal between the United States and the United Kingdom.