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Interbank Rate Spikes to 20.56% as Liquidity Tightens

BY · September 17, 2015 07:09 am

Secondary Market: Secondary market trading mellowed during Tuesday’s trading session as market layers held positions. Bond turnover tapered by 44.06% to KES619.65 million with a sum of 27 bond deals transacted, although majority of them were odd lots.
Money Market: The interbank rate spiked to 20.56% yesterday, as liquidity in the market tightened. The Kenyan Shilling traded with steady momentum against major international peers during a relatively quiet trading session on Tuesday. Subdued dollar demand from corporates coupled with banks holding Shilling positions in order to meet mid-month cash reserve requirements backed the KES.

Upcoming Auctions:

  • 9th September 2015 – KES 3.0Bn 182 & KES 4.0BN 364-day T-bills
  • 10th September 2015 – KES 1 Bn 91 day T-bills

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