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Kenyan Shilling Makes Significant Gains Against US Dollar

BY · October 12, 2015 06:10 am

Secondary Market: The week closed on a positive note supported by an upscale in secondary market trading.

Bond turnover multiplied by 72.19% to KES 515.60 million with a sum of 10 bond deals transacted. Diaspora remittances increased by 3.2% in the month of August to USD 132.9 million.

Money Market: The Kenyan shilling tallied significant gains against the US dollar, allowing the former to better weather the inevitable end-month dollar demand. The Kenyan shilling recorded a 0.13% gain against the US Dollar, to 103.00, supported by Kenya Central Bank’s overall participation in the market through the week and poor economic data from the United States; less than expected export price index, were released on Friday. Meanwhile, liquidity in the money market remained relatively tight.

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