FinanceThe Big Story

MONEY MARKETS WITH STEPHEN KABOYO: UGX drops to weekly low after short-lived rebound

by Stephen Kaboyo
Board members of BOU are paid a monthly retainer of UGX 5 million
Following a short-lived rebound early in the week, the local currency fell to a weekly low, testing the resistance level of UGX3,800, undercut by a pickup in demand from market players as risk sentiment deteriorated on account of a negative report indicating that exports declined by 8.7%, which meant minimal inflows from the export sector. The fixed income segment had a treasury bill with UGX22

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About the Author

Stephen Kaboyo is the Founder and Managing Director of Alpha Capital Partners, an indigenous Ugandan firm focusing on sovereign asset management, foreign exchange trading strategies and financial markets advisory.