17th October 2014

17th October 2014
INTERNATIONAL MARKET:
KENYA SHILLING:
EURO
The Kenya shilling extended its gains against the US dollar
on Thursday after offshore investors showed interest in the
12-year infrastructure bond worth Kes 15-billion.
At the close of market, the USD-KES pair was up 30-cents at
88.80/89.00, up from its opening price of 89.10/89.30.
Today, the shilling is likely to find support at 88.70 and find
resistance at 89.20.
In the debt market, bonds worth Kes 31 billion were traded,
up from Kes 1.3 billion traded on Wednesday.
In the Primary market, yield on the 91-day Treasury bill rose
to 8.715% from 8.614%.
COUNTER RATES
USD
GBP
EUR
JPY
CHF
ZAR
87.10
139.20
110.10
0.7975
90.90
145.60
116.90
0.8875
90.60
6.40
1.5600
1.2520
USD/JPY 103.5
1.6480
1.3080
110.90
97.60
USD/CHF 0.91
0.98
9.60
USD/ZAR 9.50
12.8
CAD
75.07
82.07
UGX
0.03025
0.03680
USD/UGX 2510
2865
TZS
0.04970
0.05620
USD/TZS 1515
1785
INR
AED
1.40920
1.46920
USD/INR 59.10
63.45
22.70
25.70
USD/AED 3.500
3.790
MONEY MARKET RATE
Inter-Bank Overnight rates
USD/CAD 0.95
1.2550
Current
6.0574%
Previous
5.9258%
91-day Treasury Bill
8.714%
8.614%
182-day Treasury Bill
8.986%
8.742%
10.172%
10.380%
CBK CBR Rate
8.50%
8.50%
Inflation Rate
Kenya Bankers Ref Rate (KBRR)
6.6%
9.13%
8.36%
1-year Treasury Bill
The Euro softened against the US Dollar on Thursday after
investors applauded a fresh round of U.S. economic indicators
as well as a U.S. response to handle an potential Ebola outbreak
in the country.
In U.S. trading, EUR/USD was down 0.26% at 1.2801, up from a
session low of 1.2706 and off a high of 1.2845.
The pair was likely to find support at 1.2623, Wednesday's low,
and resistance at 1.2886, Wednesday's high.
The U.S. Department of Labor reported earlier that the number
of individuals filing for initial jobless benefits in the week
ending Oct. 11 fell by 23,000 to 264,000 from the previous week’s
total of 287,000.
STERLING POUND:
The Sterling pound was almost unchanged against the U.S.
dollar on Thursday, still hovering close to an 11-month low as
the greenback recovered from the previous day's sharp losses
due to weak U.S. economic reports.
GBP/USD hit 1.5951 during European morning trade, the
session low; the pair subsequently consolidated at 1.6002, easing
0.11%.
Cable was likely to find support at 1.5873, Wednesday's low and
an 11-month low and resistance at 1.6103, the high of October 14.
USD Libor 3-months
UK Libor 3-months
EU Libor 3-months
USD
0.23160%
0.56275%
0.05214%
GBP
EUR
* (Source: Source: Reuters, CBK, www.ozforex.com, XE Market Analysis,
www.investing.com, and NIC Bank)
INDICATIVE INTEREST RATES: $250,000>
CCY
1 Month
3 Month
6 Month
1 Year
KES
7.00%
8.00%
9.00%
9.50%
USD
2.50%
2.75%
3.00%
3.25%
GBP
2.25%
2.50%
3.00%
3.25%
EUR
2.25%
2.50%
3.00%
3.25%
Treasury Team:- Sankul Mandavia, Bernard Matimu, Maxwell Mutinda, Punit Jani, James Mwai ,Irene Nzuna, Margaret Wangeci,
Bhavnisha Jethwa, Ellaine Wanjiru, Moses Tanui, Fred Kuria and Pauline Nyamu. Telephone contacts: - 0711041326 - 332/323
0711041571/501, 2888326 – 332 /323/ 2888571/501/ 0731201331, 0738066230 or 0738295005. Email Contact: - [email protected]
Disclaimer: Whilst all considerable care has been taken by NIC Bank Ltd in preparation of this Market Brief, the Bank does not take responsibility howsoever in
respect to any losses arising from errors, omission, opinions, forecasts or information given whether such losses are direct, indirect or
consequential.