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Exchange rates

Previous week rates: 06/05/2016                                              Current week rates: 13/05/2016

Country Currency Buying Selling Country Currency Buying Selling
 US USD 100.47 100.66  US USD 100.50 100.70
 UK GBP 145.53 145.84  UK GBP 145.15 145.48
 EUROPE EUR 114.60 114.84  EUROPE EUR 114.33 114.58
 S.AFRICA ZAR 6.71 6.72  S.AFRICA ZAR 6.67 6.68
 JAPAN JPY 0.9357 0.9378  JAPAN JPY 0.9232 .9253
 AUSTRALIA AUD 75.14 75.34  AUSTRALIA AUD 73.41 73.57
 CANADA CAD 78.23 78.41  CANADA CAD 78.23 78.41
 INDIA INR 1.5104 1.5137  INDIA INR 1.5061 1.5093

Source: Central Bank of Kenya (CBK)

The local unit traded steady against US dollar around 100.60 levels during the week. Slight decline to 100.75 was seen on Wednesday and Thursday as manufacturers dollar demand weighed on the local unit. Kenyan shilling is expected to remain stable for the next week as demand remains muted.

Key benchmark interest rates

Interest rate Current Previous Change Direction
Central Bank Rate 11.5 11.5 0.000%
Interbank lending rate 3.2648 3.9104 -0.646%
Month on month inflation rate 5.27 6.45 -1.180%
91 Days Treasury Bill 8.189 8.332 -0.143%
182 Days Treasury Bill 10.273 10.366 -0.093%
364 Days Treasury Bill 11.689 11.723 -0.034%

Source: Central Bank of Kenya (CBK)

Interbank lending rate fell from 3.9104% to 3.2648%. Volume traded increased from 7.25 billion to 12.35 billion. The interbank market remains sufficiently liquid but skewed.

91 day T-bill eased by 0.143% from 8.332% previous week rate to 8.189%. CBK offered a total of Kshs 4 billion. Bids amounted to Kshs 11.143 billion of which 5.129 billion was accepted.

182 day T-bill declined by 0.093% from 10.366% previous week rate to 10.273%. CBK offered a total of Kshs 6 billion. Bids amounted to Kshs 12.109 billion of which 6.019 billion was accepted.

364 day T-bill eased by 0.034% from 11.723% previous week rate to 11.689%. CBK offered a total of Kshs 6 billion. Bids amounted to Kshs 9.910 billion of which 6.132 billion was accepted.

T-bill rates are expected to ease as liquidity remains high in the local market. CBK has injected a total of 41 billion Kenyan shillings via reverse repo during the week. The high liquidity may be regulators move to down interest rates before next week’s bond auction.

Capital Markets

Equities

Top Gainers Losers
Company Price % Change Company Price % Change
TPSE 23.50 6.10 SGL 26.50 8.62
CIC 5.20 6.02 UCHM 3.75 3.85
UNGA 36.00 5.00 FTGH 6.95 3.47
FIRE 3.40 4.35 WTK 175.00 2.78
I&M 112.00 3.57 TCL 5.25 1.87

Source: Nairobi Securities Exchange (NSE)

Bonds

CBK has offered eligible investors an opportunity to invest in the nine year IFB1/2016/9 and two year FXD2/2016/2 for a total value of Kshs 30 billion. The nine year bond would have a fixed coupon of 12.50% whereas the two year bond coupon would be market determined. Redemption dates would be 12/05/2025 and 21/05/2018 for the nine year bond and two year bond respectively. Non competitive bids would amount to 20 million per investor for both of the bonds.

Bids closure would be at 2.00 pm on Tuesday 17th May 2016. Ensure submission of bids by th stated date to be eligible for participation in the auction.

 

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Posted by Timothy II Aperit

True believer in numbers. Statistics never lie. Bsc Financial Engineering MBA Finance ACCA

  • Thomas Adler

    should include china’s currency