The Ugandan shilling was flat on Wednesday although market players were anticipating a boost from dollar inflows from offshore traders participating in a Treasury auction.
ADVERTISEMENT
Shilling unchanged but seen firming on debt sale
At 1145 GMT, commercial banks quoted the shilling at 3,340/3,350, unchanged from Tuesday's close.
"There's some anticipation of portfolio flows from offshore investors who took part in today's auction," said a trader at a leading commercial bank, referring to a sale of 185 billion shillings ($55.39 million) worth of Treasury bills on Wednesday.
Traders say Uganda's debt is attracting significant offshore appetite because yields have been high while inflation is relatively low.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh