USDKES succumbs to pressures as month end dollar demand piles

Secondary Market: Trading in the secondary market remained subdued as expected during Tuesday’s trading session. Bond turnover summed to KES 61.20 million with only three bond deals transacted. Poor activity in the market is mainly attributed to tight liquidity as well as auctions in the primary market.

Money Market: The monetary regulator was active in the money market as it strived to protect the KES exchange rate against majors as well as manage liquidity in the market. The USDKES succumbed to pressures as month end dollar demand from energy and manufacturing segments piled.

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