The Ugandan Shilling was relatively stable with flows from commodity Exeter’s and offshore investors lending support. The unit held in a narrow range of 2715/25. In the neighbouring Kenya market, the Kenyan Shilling lost ground on elevated dollar demand from various sectors, trading at 137.38, and was kept to surrender more ground. In the bond market, the 5 and 20-year bond yields held at 14.750% and 16.250%. The market tendered UGX 726 billion against the offered UGX400 billion. However, the Bank of Uganda was only able to take up UGX226 billion, being mindful of premium bids and their impact on…
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