Shilling continues to buoy within tight range Tuesday

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KAMPALA - The Uganda shilling continued to buoy within a tight range on Tuesday opening at 3815/3825 and closed stronger at the 3810/3820 levels.

The unit was helped by healthy remittance and month-end inflows that outmatched the activity by dollar buyers according to Catherine Kijjagulwe, head of trading at Absa.

The narrative remained the same in the money markets on Tuesday with continued liquidity tightness keeping overnight yields elevated at averages of 11.95%.

Bank of Uganda is scheduled to hold a treasury bill auction tomorrow April 24, 2024.