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Money Markets Prime Rates: 7th April 2015

BY · April 7, 2015 08:04 pm

Secondary Market: Trading in the secondary market accelerated during commencement of the week’s trading session. Bond turnover increased to KES 1.82 billion from KES 1.01 billion on Thursday last week. Domestic borrowing as at the end of March was at KES 104 Bn against a set target of KES 101.7 Bn, though this is set to further increase during the month of April as the supplementary budget is set to get parliamentary approval.

Money Market: The interbank rate declined to 8.06% from 8.18% during the previous week. The shilling remained flat against the dollar as the Central Bank extended further mop ups amounting to KES 16 Bn in Repurchase agreements and Term Auction Deposits. There shall be no bond issues during the course of the month, only a tap sale, whereby allocations for the Infrastructure Bond as at Thursday last week stood at KES 16.9 Bn.

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