Currency update from Monday’s trading session

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The dollar-shilling pair was flat on Monday with both demand and supply subdued on the day. The pair traded at 3800 / 3810 levels all day.

According to Absa traders, “most corporates preferred to stay on the sidelines as they reserved their local liquidity to clear mid-month tax obligations.”

Money markets opened the week tighter with short-term funding averaging around 12.00%. Bank of Uganda will conduct a treasury bond auction on Wednesday worth sh520b.

The benchmark 2-year and 10-year bonds will be re-opened for sh200b and sh320b respectively.