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Kenyan Shilling Eases Against US Dollar

BY · September 23, 2015 10:09 am

Secondary Market: Trading in the secondary market contracted significantly, with bond turnover dipping to KES 74.74 million. A cautious attitude prevailed in the market as the MPC meeting took place. The committee decided to maintain the CBR at 11.50% in order to anchor inflation expectations. The CBK also noted that it stands ready to use the instruments at its disposal to maintain overall price stability.

Money Market: Liquidity in the money market remained tight as the regulator intervened to issue TADs worth KES 10 billion. The Kenyan Shilling (KES) eased by 0.50% to settle at 105.63 (12:30pm GMT) against the US Dollar, as local importers sought Dollars to settle month end obligations. On the other hand, gains were posted against the Sterling Pound (GBP) and Euro (EUR), respectively.

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