Activity slow Monday ahead of April inflation data

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The Ugandan shilling opened the week relatively quietly in anticipation of the release of April’s inflation data by the Uganda Bureau of Statistics today (April 30).

Throughout Monday’s session, the currency hovered around the 3810/3820 levels, showing a rangebound performance as month-end flows adequately covered the demand for dollars observed during the day.

The narrative remained the same with Money Markets continuing to face tight liquidity conditions with overnight yields at averages of 11.95% according to Absa traders.