Interbank rate surges to highest recorded in 2015
By / Published June 2, 2015 | 9:28 am
Secondary Market: Trading in the secondary market held steady at the close of last week’s trading session with bond turnover of KES 2.00 billion posted. We expect trading in the secondary market to remain modest over the coming days as tight money markets add some pressure.
Money Market: The interbank rate surged to 13.78% on Friday; the highest recorded in 2015 as liquidity in the money market remained constrained. The Kenyan Shilling (KES) reversed losses across the board during Friday’s trading session after the CBK took on reactive measures by selling dollars in the money market through brokers after the USD KES exchange rate hit a new low beaching the 99 level shortly before markets closed the previous day.
Upcoming Auctions:
- 3rd June 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills
- 4th June 2015 – KES 1 Bn 91 day T-bills
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