8 March 2014

Uganda Shilling Post Gains

The Ugandan shilling posted some gains in the week trading 2505/15 from 2525/35 as the dollar buying interest seen in the previous week disappeared, according to traders at Standard Chartered Bank.

"As expected the local unit pulled back in a relatively quiet week," the traders said, adding yields were up in the midweek treasury bill auction registering an average of about 28 basis points in the week where policy makers left the central bank rate unchanged.

We expect the shilling to remain stable in the 2500-30 range next week with no spikes either side, the team said.

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