Central Bank Liquidity MOP Keeps Shilling On A High

The Uganda shilling kept appreciating against the US dollar for another consecutive Centenary Bank’s Chief Manager Treasury, Catherine Jamwa confirms.

“The shilling firmed against the dollar on Monday supported by Central Bank’s mopping up of liquidity of Shs183Bn in a 7-day repo on Monday, via repurchase agreements.”

By close of business, commercial banks quoted 2,523/28 against the dollar, little changed from Friday’s close of 2,530/35.

“The shilling is expected to firm this week as it might draw some support from offshore investor inflows targeting the government treasury bill auction on Wednesday coupled with end-month NGO inflows,” Jamwa said.

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