Business
Currency trades on weaker footing in Thursday's session
Some traders linked the currency pressures to listed companies that are paying shareholder dividends.
Currency trades on weaker footing in Thursday's session
By: Ali Twaha, Journalist @New Vision
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The Uganda shilling traded on a weaker footing against the US dollar in Thursday’s session, depreciating from opening levels of 3730 / 3740 to close at 3745 / 3755.
Some traders linked the currency pressures to listed companies that are paying shareholder dividends. Other pressures continue and are largely influenced by heightened geopolitical tensions in the Middle East following fresh US military strikes on Iran overnight.
In the money markets, liquidity conditions continued to improve, according to an Absa report, with overnight and one-week funding rates averaging 9.75% and 9.85%, respectively.
In the money markets, liquidity conditions continued to improve, according to an Absa report, with overnight and one-week funding rates averaging 9.75% and 9.85%, respectively.