Kenyan shilling slides to 99.55 against US Dollar

Secondary Market: Secondary market activity accelerated as bond turnover lengthened to KES 1.96 billion with 31 bond deals transacted over the day. Investors focused on bonds within the intermediate term bracket. Meanwhile, trading in the primary market remained subdued.

Money Market: The interbank rate held relatively steady even at 9.53% as liquidity in the money market was less constrained. The Kenyan shilling weakened to 99.55 to the dollar – a level last seen in October 2011 even as the Central Bank sought to mop up 21 billion shillings from the market.

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