Kenyan Shilling Gains Against Major Peers

Secondary Market: Trading in the secondary market dipped at the end of the week as bond turnover contracted to KES 131.07 million from KES 400.65million the previous day. Investors displayed preference for bonds on the short end of the yield curve.

Money Market: Liquidity in the money market remained in excess even though the monetary regulator mopped up KES 7 billion from the money market. The interbank rate held steady at 15.31% with a total of KES 35.86 billion volumes traded. The Kenyan Shilling (KES) marked gains against major peers during the week’s final trading session, but remained vulnerable from the implications of a global rout of emerging market currencies and shares as investor’s reallocated portfolios to haven economies.

Upcoming Auctions:

• 26th August 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills

• 27th August 2015 – KES 1 Bn 91 day T-bills