Do­mes­tic news - Uganda

East African Business Week - - MARKETS -

The Uganda shilling held steady ver­sus the green­back yes­ter­day within the 3585-3605 band on the back of min­i­mal but match­ing flows on both the de­mand and sup­ply coun­ters.

There was a slow­down in ac­tiv­ity on the lo­cal FX mar­ket as key play­ers stayed on the side-lines. Ahead of the week­end, we ex­pect calm­ness to pre­vail as the USD/UGX trades higher within the 3580-3620 bracket.

In the money mar­ket, the cen­tral bank mopped up UGX 541bn of ex­cess liq­uid­ity via a 7 day re­pur­chase agree­ment. In a bid to man­age struc­tural liq­uid­ity, BOU has reestab­lished the 28 and 56 day de­posit fa­cil­ity along­side repo auc­tions.

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