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CBK Says Kenyan shilling Trading at Favourable Level

BY · November 23, 2015 07:11 am

Secondary Market: The week ended on a positive note as bond turnover extended by 30% to KES 942.90 million. Investors remained focused on bonds in the intermediate term tenor, with a sum of eight bond deals transacted over the course of the day. Trading may waver slightly this week as investors shift focus to the primary bond auction of the FXD2/2015/5 on 25th November 2015.

Money Market: The monetary regulator intervened in the money market on Friday, offering Reverse Repos worth KES 7 billion, as it aimed to redistribute liquidity. Meanwhile, the Kenyan shilling weakened against the dollar, down 0.01% to 102.21.

Nevertheless, CBK remained positive in regards to the shilling stating that although reserves provided leeway to stabilize the foreign exchange market, thus smoothing out excess volatility, the Kenyan shilling was trading at a favourable level that was market determined and based on strong fundamentals.

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