Disappointing week as Kenyan Shilling drifts lower against US Dollar

Secondary Market: The week was wrapped up with robust trading in the secondary market as bond turnover extended to KES 2.78 billion on Friday.

Investor’s remained pegged on bonds within the intermediate term bracket with the IFB1/2013/12Yr being the most popular.

Money Market: The interbank rate held about 10% for another week as liquidity in the money market remained restrained. Meanwhile, the KES experienced another disappointing week as the currency drifted lower against the US Dollar (USD) by 0.11% to KES 95.49, due to local market fundamentals.

Upcoming Auctions

• 13th May 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills

• 14th May 2015 – KES 1 Bn 91 day T-bills