Kenyan Shilling drops further against the US Dollar by 0.51%

Money Markets Prime Rates

Secondary Market: Bond turnover grew substantially to KES 2.31 billion from KES 114.4 million on Friday as the number of bond deals transacted extended. Investor’s showed keen interest for bonds in the intermediate term bracket.

Money Market: Liquidity conditions remained constrained signaled by the interbank rate which increased its spread to the CBR significantly at 12.42% recorded yesterday.

Consequently, volumes traded in the market diminished. The Kenyan Shilling (KES) dropped further against the US Dollar (USD) by 0.51% to 97.90 as dollar demand by importers extended further pressure to the shilling.

Upcoming auctions:

• 27th May 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills

• 29th May 2015 – KES 1 Bn 91 day T-bills
  

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