Kenyan Shilling Extends Marginal Gains Against US Dollar

Secondary Market: Trading in the secondary market dipped significantly during Wednesday’s trading session as bond turnover tapered by more than 90% to KES 594 million yesterday. Only five bond transactions were processed yesterday with the bulk of volumes coming in from the sales of the IFB papers.

Money Market: The interbank rate has displayed minimal fluctuation over the last two days even though volumes traded remain robust. Meanwhile, the money market remains relatively liquid. The Kenyan shilling extended marginal gains against the US Dollar (USD) by 0.05% to 101.50 as market sentiments awaited the Federal Open Market Committee’s statement in anticipation for a December rate hike.

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