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Kenyan Shilling sheds further against the dollar

BY · May 22, 2015 08:05 am

Secondary Market: Trading in the secondary market was curbed by tight liquidity in the money market. Bond turnover remained subdued at KES 98.6 million supported by traded on the IFB. Overall, only 12 bond deals were transacted over the day.

Primary Auction: The yield on the FXD 3/2014/2 rose to 11.767%, whilst the FXD 1/2014/10 also rose marginally to 12.886% with good subscription on both bond offers.

Money Market: The interbank rate spurred further to a second day of new highs at 11.45% as relatively tight market conditions continue to ensure. The Kenyan Shilling (KES) extended further shedding against the dollar (USD) by 0.34% surpassing the 97 upper limit where it closed at 97.13 as further end month pressures persists, with the Central Bank injecting KES 4 Bn in Repos as it hopes to stem volatility.

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