Shilling update from Wednesday’s session

Pockets of corporate demand that outweighed month-end inflows during Wednesday’s session led the Uganda shilling to lose ground again to close at the 3885/3895 levels from the day’s opening of 3875/3885.

Fairly liquid money markets on Wednesday with overnight yields at averages of 11.01%.

Bank of Uganda held a treasury bill auction and yields in the 91-day, 182-day, and 364-day tenors cleared at averages of 9.602%, 12.362%, and 13.252% respectively.

The Uganda Bureau of Statistics is scheduled to release the March 2024 inflation data on March 28, 2024.