Kenyan Shilling Finds Stable Ground as at Market Close

Secondary Market: Trading in the secondary market has improved over the course of the week with a bond turnover of KES 687.65 million recorded on Thursday supported by 15 bond transactions. The treasury announced to issue a 1 year paper this month, which is expected to receive significant demand but also aggressive bidding from market players.

Money Market: The monetary regulator remained absent from the money market after the Kenyan Shilling found stable ground at 105.45 (12:30pm GMT) yesterday. Dollar sales and interbank demand for Shillings from fund managers and the telecommunications sector provided support.

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