Shilling steady in quiet trading session ahead of Census Holiday

The Uganda shilling maintained a rangebound trading pattern in a quiet session ahead of the census holiday, opening at 3780/3790 levels and closing slightly stronger at 3775/3785 levels.

Trading activity was subdued, with low volumes on both the buy and sell sides according to Catherine Kijjagulwe, head of trading at Absa.

The money market overnight yields averaged 11.93%, with markets experiencing fair liquidity during the day’s session.

The Bank of Uganda is scheduled to hold a five-year and 15-year treasury bond auction on May 15, 2024.