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Kenyan Shilling Drops Further Against the US Dollar

BY · July 16, 2015 07:07 am

Secondary Market: Trading in the secondary market was subdued during Wednesday’s trading session recording a bond turnover of KES 150 million with only one bond deal transacted. Investors have remained shy from the money market as a result of an uptick in yields which has suppressed trading levels.

Money Market: The monetary regulator remained active in the money market in order to provide support to the KES. TADs and REPOs worth KES 5.1 billion were sold yesterday. This saw the interbank rate rise to 11.57%.

Meanwhile, the Kenyan shilling advanced by a further 0.19% against the US Dollar (USD) to settle at 101.78 coming off the announcement of a USD350Mn loan for financing the Nairobi-Mombasa pipeline.

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