Currency update from Thursday’s trading session

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The Uganda shilling traded stable during Thursday’s session as commodity export inflows helped the local unit register marginal gains against the Greenback, according to traders at Absa. 

The shilling closed the day trading at 3808 / 3818 levels stronger than the day’s opening at 3813/3823 levels.

Overnight trades averaged at 12.09% on Thursday in a session that saw extreme tightness in shilling liquidity.

Meanwhile, in the regional market, the Kenyan shilling slipped in what analysts described as a “market correction after a rapid gain” against the dollar. There was sizable demand for hard currency mainly from fuel importers.

Dealers quoted the Ksh at 132.4 against the dollar.