Currency update from Tuesday’s session

_________________

The Uganda shilling appreciated on Tuesday, helped by strong inflows from commodity exporters and portfolio investors, traders said.

The Uganda shilling closed the day trading at 3600/3610 compared to the day’s opening of 3620/3630.

Market observers noted that a positive sentiment from the World Bank, which said it would resume lending to the country last week, further rendered support to the local unit.

Money markets were liquid with overnight and one-week trades averaging at 9.10% and 10.45%, respectively, according to data from Absa.

In the global markets, the U.S. dollar rose Tuesday, boosted by signs that tensions between China and the U.S could be easing as trade talks continued into a second day.