Shilling unchanged but seen firming on debt sale

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.

"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.