Kenyan Shilling sheds further against US Dollar to settle at 97.40

Money Markets Prime Rates

Secondary Market: Bond turnover accelerated to KES 114.40 million supported by trades on the IFB. Overall, only 5 bond deals were transacted over the day, a slight decline from the Thursday’s 12 traded bonds.

Primary Market: The average redemption yield on the 2 year and 10 year bonds were at 11.77% and 12.89% respectively.

Money Market: The interbank rate surged to 12.06% as liquidity tightened ahead of the value date for the 2 and 10 year primary auction. The Kenyan Shilling (KES) continued to shed further in the 97 upper limit, settling at 97.40 as data indicates that the US housing has jumped upwards to a 7 year high.

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