15th May – 22nd May 2020: Weekly financial markets review and outlook with Stephen Kaboyo Ugandan Shilling remains steady amidst declining imports demand- expected to remain firm in the coming days as Covid-19 related lockdown keeps forex demand in check.

The Uganda Shilling remained stable for most of the trading session, opening the week in the range of 3788/98 and closing at 3785/95 on the back of hard currency flows from the treasury auction and commodity exports amid depressed importer demand for forex.In the fixed income segment, the market continued its appeal, attracting huge uptake from an investor base that was largely domestic and some trickle in from offshore. Yields dropped slightly as compared to the previous treasury auction, printing at 8.604%, 10.711% and 12.267% for the 91, 182 and 364-day tenors. Amount on offer was UGX140 billion, with the…