Find visitors' favorite businesstravel Hotels And.... Book your best!

ad. Buy Grade A Premium Uganda Vanilla Beans NOW Available for Export  

Uganda shilling remains steady against the Greenback ahead of Treasury bill auction

The Ugandan shilling held steady against the dollar on Friday as traders avoided taking positions ahead of a Treasury bill auction next week that will provide a gauge of foreign investor appetite for Uganda's debt.

At 0745 GMT, commercial banks posted the shilling at 2,465/2,475 on Friday, unchanged from Thursday's close.

"Players are holding their cards close to their chest as they eye the outcome of the auction," said Ahmed Kalule, a trader at Bank of Africa.

"The shilling is likely to remain fairly stable until after results are out, when a clear picture of where we're headed will have emerged," Kalule said.

Bank of Uganda is scheduled to auction 120 billion shillings worth of 91-, 182-, and 364-day Treasury bills on May 16.

Dollar inflows from offshore buyers of government securities usually support the local currency in an economy that lacks a vibrant export sector.

He said yields on the three tenors of Treasury bills on offer were likely to edge up slightly due to sluggish liquidity in the market.

At the last auction, on May 2, the weighted average yield on benchmark 91-day paper inched lower to 18.0 percent from 18.1 at the previous sale.

The central bank left its key lending rate unchanged at 21 percent for the second consecutive meeting this month due to lingering price pressures.

The decision meant yields would remain high, after slumping following an unexpected rate cut in March, and pushed the shilling to a 2012 low of 2,620.


Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Africa Uganda Currency and Forex News .

Haven't yet found what you Want...?

If you haven't yet found what you were looking for or you need detailed information about the subject matter on this page


feel free to ask our business travel consultants.

Book a Prisons & Correctional
Charity Tour

Farmland for Sale
Prime Commercial Property
Entebbe Rd Land 4 Sale
Over 20 Farmland Parcels
Property & Plots of Land

Uganda Online SuperMarket
Online SuperMarket

Uganda Coffee Safari
Book My Coffee Tour

Uganda Honey
Uganda HoneyComb

Subscribe to our Business Travel Newsletter

Enter Your E-mail Address
Enter Your First Name (optional)

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Africa Uganda Business Travel News Digest.

Hotel Booking

Car RentalCar Hire

Africa Uganda Shipping & Handling ServicesShipping & Handling Services

Our Sponsorship Policy

Apple Guavas available
Africa Uganda Plants GuideAfrica Plants Guide

Charity Investment Guide
Changing Lives

Africa Uganda SMS Guide
Africa Bulk SMS

Poultry Investment Guide
Poultry Business Guide

Related Pages

Uganda Hotels Directory

Uganda Hotels Booking Guide

Houses U can buy Uganda Real Estate Guide Industrial/Farmland Deals

Uganda Real Estates Guide

The Mountain Gorilla

Uganda Safari Guide

Uganda Weather Today

Book My Hotel

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Uganda Currency