Pre Markets: USE Rises As Shilling Stabilises

The Uganda Securities Exchange ALSI rose 0.67% to 1,973.29, as the main index is fast closing in on the 2000 mark.

Umeme (UMEM) dominated the market after it moved 34,318 shares generating a turnover of UGX 13.72 million.

In Rwanda, both RSI and ALSI fell 0.24% and 0.04% to close at 135.05 and 133.43 respectively.

Uganda shilling steady as importer demand slows

The Ugandan shilling was steady on Wednesday due to slowing dollar demand from commercial banks and importers.

At 1130 EAT commercial banks quoted the shilling at 3,655/3,665, same level as Tuesday’s close.



Rwanda inflation declines

The National Institute of Statistics reported a fall in inflation to 0.7% year-on-year in December from 2.2% a month earlier.

This is mainly due to the rising prices of housing, water, electricity, gas and other fuels (2.4%), and transport (2.8%).