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Kenyan Shilling Extends Further Weakening Against US Dollar

BY · November 10, 2015 12:11 pm

Secondary Market: Trading in the secondary market received a boost from improving liquidity in the money market. Bond turnover accelerated to KES 1.37 billion from KES 458 million on Friday, although only 10 bond deals were transacted during the day. The 12 Year infrastructure bond accounted for the highest traded volumes.

Money Market: The interbank edged up slightly to 10.19% even though the CBK injected liquidity in the market through reverse repos on Friday. The Kenyan shilling extended further weakening against the US Dollar (USD) by 0.22% to settle at 102.37 following the USD rallying after Friday’s data indicated that US non-farm employers had created a net 271,000 jobs in October, supporting a more bullish stance on a US Fed rate hike set for December 16th 2015.

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