The Uganda shilling strengthened against the dollar on account of improved foreign Exchange supply mainly portfolio flows targeting the Treasury bond auction.
Trading was in the range of 3580/3590.
In the treasury bond auction, a total of 160 billion was offered for 2 and 5 year reopening.
Coupons were 18.625% and 16.750% while yields were 15.071% and 16.088% respectively.
In the international currency markets, the dollar retreated as markets remained uncertain on Trump administration economic plan and the aggressiveness of renegotiating US trade pacts with Canada and Mexico.
‘ ‘Outlook for the shilling indicate a stable shilling, holding at the current levels as end month flows render some support against muted demand.’’ Says Stephen Kaboyo, the Alpha Capital Markets boss