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Kenyan Shilling extends further losses against US Dollar

BY · June 22, 2015 08:06 am

Secondary Market: Trading in the secondary market was significantly lower compared to previous days.

Bond turnover recorded volumes worth KES 33.10 million from KES 692 million the previous day, with only 7 bond deals transacted over the day. We expect trading in the secondary market to remain mellow for the remaining part of the week as investors gear for the primary auction tomorrow.

Money Market: Liquidity in the money market remained constrained during the final trading session of the week, signaled by the interbank rate which stood at 11.57%. The Kenyan Shilling recorded a mixed performance against major peers during Friday’s trading session. The shilling extended further losses against the US Dollar (USD) following data indicating that US factory activity had spurred in June, jobless claims had declined and US consumer prices were up.

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