Kenyan Shilling hits low of 93.80 against the US Dollar

Secondary Market: Trading in the secondary market remained steady as bond turnover extended marginally by 5% to KES 888.65 million from KES 844.10 million. A total of 30 bond deals were transacted yesterday. Investor’s focus was pegged on intermediate term bonds.

Money Market: The interbank rate edged up to 8.81% as liquidity in the money market remained tight. Meanwhile, the Kenyan Shilling (KES) hit a low of 93.80 against the US Dollar in early hours of trading on Tuesday; this prompted the Central Bank of Kenya to sell Dollars in the money market to prevent further depreciation.

Upcoming Auctions

• 22nd April 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills

• 23rd April 2015 – KES 1 Bn 91 day T-bills