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Investor Sentiments Dampened By Kenyan Shilling Volatility

BY · July 14, 2015 07:07 am

Secondary Market: Trading in the secondary market remained subdued during Monday’s trading session. Bond turnover marginally rose to KES 40 million from KES 32.8 million yesterday. Investors’ sentiments are currently dampened due to volatility of the Kenyan Shilling.

Money Market: The interbank rate rose to 9.43% as the monetary regulator sought sweep off excess liquidity from the money market. The KES was hurt by mounting dollar demand from the energy and manufacturing sectors; this saw the USDKES exchange rate slipping to a three and a half year low to settle to 103.65 (12:30pm GMT) yesterday.

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