Currency updates from Tuesday’s session
Traders said the unit recouped some marginal losses posted yesterday in a false and mini breakout during the session.
The shilling is still anticipated to trade within the same narrow range, 3650-3700, in the near term according to Absa.
Ali Twaha
Journalist @New Vision
KAMPALA - The Uganda shilling was rangebound during Tuesday’s session, closing at the 3660/3670 levels from opening of 3665/3675.
Traders said the unit recouped some marginal losses posted yesterday in a false and mini breakout during the session.
The local unit continues to show resilience and stability underpinned by dollar inflows from commodity exports and end-of-month diaspora inward remittances.
The shilling is still anticipated to trade within the same narrow range, 3650-3700, in the near term according to Absa.
Money markets remained liquid during Tuesday’s session with overnight and one-week trading at the averages of 10.70% and 11.50%, respectively. The Central Bank has not scheduled any securities auctions this week.
The Uganda Bureau of Statistics is scheduled to release April information numbers on April 30. Uganda’s annual headline inflation rate eased to 3.4% in March 2025, down from the previous month’s rate of 3.7%.
Core inflation, which excludes food crops and energy, declined to 3.6%. Inflation for other goods softened to 2.6% in March, down slightly from 2.7% in February.