The Uganda shilling was under stress trading above the key psychological level of 3800 for the first time in months. Towards closure of the week the unit cooled off, lifted by the Central Bank dollar selling intervention and the hawkish monetary policy stance. This however was seen as temporary respite before persistent demand builds up again. In the regional markets, most Central Banks took similar hawkish actions to curb the soaring inflation across all economies.In the fixed income market, Bank of Uganda privately placed debt in multiple tenors outside the normal schedule. A move seen as raising financing ahead of…
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