Shilling trades under pressure on Tuesday

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The Uganda shilling traded under pressure during Tuesday’s session as both corporate and interbank demand took center stage, Absa traders said.

The Uganda shilling closed the day’s trading at 3825 / 3835 levels weaker than the day’s opening at 3800/3810 levels.

Money markets were tight on Tuesday with short-term funding averaging around 12.03%.

The Bank of Uganda will conduct a treasury bond auction on Wednesday, April 17, 2024, worth sh520b. The benchmark 2-year and 10-year bonds will be re-opened for sh200b and sh320b respectively.