Secondary Market: Trading in the secondary market continued an upward trajectory as bond turnover multiplied by 123% to KES 370 million. Investors displayed keen interest for bonds in the short term bracket.
Money Market: The monetary regulator continued to intervene in the money market to mop-up excess liquidity; with TADs worth KES 8.5 billion sold yesterday. Monday was a gloomy trading day for the Kenyan Shilling (KES) as it breached the 106 psychological level, marking a historical low against the US Dollar (USD).
Factors which fuelled the Kenyan Shilling’s depreciation included global strengthening of the USD and mounting dollar demand from the energy and telecommunications sectors.
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