The Ugandan shilling weakened against the dollar on Wednesday, starting the day at 3695/3705 and closing at 3715/3725. This decline was mainly due to interbank demand and a lack of dollar sales from commodity exporters, as reported by Absa traders.
Money markets remained liquid, with overnight yields averaging 8.63% and one-week funds at 10.34%. The Bank of Uganda has announced a treasury bill auction scheduled for July 31, 2024.
Table: Currency and Money Market Data
| Date | Opening Rates (UGX/USD) | Closing Rates (UGX/USD) | Overnight Yields | One-Week Yields |
|---|---|---|---|---|
| July 24, 2024 | 3695/3705 | 3715/3725 | 8.63% | 10.34% |
