Currency updates from Monday’s session

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The Uganda shilling registered gains today as players in the local interbank market trimmed their long positions with waning corporate demand.

Traders said corporate preferred to stay on the sidelines reserving their shillings to fulfill mid month tax obligations.  The local unit closed trading at 3660 / 3670 levels compared to the day’s opening of 3670/3680. 

Money markets were liquid according to Absa market data with overnight and one-week trades averaging at 10.58% and 11.50% respectively.