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Money

Shilling Remains Fairly Unchanged Against US Dollar

BY · November 25, 2015 11:11 am

Secondary Market: Bond turnover improved significantly to KES 370.80 million from a low of KES 5.95 million. Two bond deals accounted for total turnover, which indicated subdued activity levels in the secondary market. A trade on the FXD1/2013/5Yr accounted for the bulk of the turnover (KES 270.80 million).

Money Market: The monetary regulator refrained from intervening in the money market as liquidity remained robust. Into the second day of trading, the shilling remained fairly unchanged against the dollar, closing the trading day at 102.13, despite fundamental pressure on the shilling and strong U.S economic data. The United States reported a strong Gross Domestic Product of 2.1% (QoQ), up from 1.5%, and a reducing Goods Trade balance (OCT); thus making the US Fed Rate Hike more likely in their December 15 meeting.

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