By Stephen Kaboyo
It was range bound trading for the local currency. At the opening bell, UGX was stable, but ceded some ground mid-week as pockets of demand emerged mainly from corporate players. Trading was in the range of 3780/3790.
Towards the end of the trading week, Bank of Uganda conducted open market operations through a deposit auction and a repo of significant amounts as part of their liquidity management program. This action also supported the currency and kept volatility in the money markets in check.
The fixed income segment had a Treasury bill auction with 225 billion on offer. There was huge up take with total bids in excess of 439 billion. Yield remained relatively steady to print at 9.575% , 11.938% and 12.999% for 91, 182 and 364 day tenors.