Kenyan Shilling breaches the 99 upper limit against US Dollar

Secondary Market: Secondary market trading activity accelerated during Wednesday trading session as bond turnover rose to KES 556.9 million with 18 bond deals transacted. Investors showed preference for bonds on the intermediate term bracket.

Money Market: Liquidity in the money market loosened marginally signaled by the interbank rate which stood at 9.85% yesterday. Meanwhile, the Kenyan shilling exerted further downward pressure shedding 0.61% against the US Dollar (USD) to breach the 99 upper limit to settle at 99.24 as demand for dollars from corporates remained high.

Upcoming Auctions

• 1st July 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills

• 2nd July 2015 – KES 1 Bn 91 day T-bills