Market confidence regained slightly after President nominates CBK governor
By / Published June 3, 2015 | 7:49 am
Secondary Market: Trading in the secondary market subsided at the beginning of the week’s trading session as bond turnover stood at KES 696.40 million from KES 2.00 billion the previous day with only 7 bond deals transacted.
Nonetheless, market confidence regained slightly after President Uhuru Kenyatta nominated Dr. Patrick Ngugi Njoroge as CBK governor.
Money Market: Liquidity in the money market remained restrained, however, the interbank rate eased slightly by 20bps. Meanwhile, the USDKES exchange rate retraced back to the 96 level spurred by positive sentiments after the President nominated a name for CBK governor.
Central Bank’s Monetary Policy meeting set for 9 speculated to mitigate further shedding on the currency.
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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