14th October 2014

14th October 2014
INTERNATIONAL MARKET:
EURO
KENYA SHILLING:
The Kenya shilling depreciated vis-a-vis the US dollar on
Monday in quiet trade on Monday, with U.S. markets
remaining closed for Columbus Day, hence reduced dollar
inflows.
At the close of market, the shilling was posted at 89.10/89.30
per dollar, 10-cents weaker than its opening price of
89.00/89.20.
The Euro strengthened against the US Dollar on Monday after a
key U.S. Federal Reserve official said rate hikes could come later
than markets may be expecting.
In U.S. trading, EUR/USD was up 0.44% at 1.2682, up from a
session low of 1.2621 and off a high of 1.2697.
The pair was likely to find support at 1.2604, Friday's low, and
resistance at 1.2792, Thursday's high.
Today, the sentiments point towards a weaker shilling; as
dollar buying outweighs the sale on the back of reduced
dollar inflows.
The dollar has firmed against the euro and most other currencies
in recent sessions on expectations for U.S. monetary policy to
diverge with Europe and Asia.
On the daily inter-bank lending, the rates have been
dropping from a high of 6.70% experienced last week to a
low of 5.96% which was seen yesterday.
STERLING POUND:
The Sterling pound edged higher against the US Dollar in quiet
trade on Monday, with U.S. markets to remain closed for
Columbus Day and although global growth concerns persisted.
COUNTER RATES
87.20
140.20
109.70
0.7850
91.00
146.60
116.50
0.8750
1.5600
1.2520
USD/JPY 103.5
1.6480
1.2980
110.90
CHF
ZAR
90.10
97.10
USD/CHF 0.93
0.99
6.50
9.70
USD/ZAR 9.50
CAD
76.10
83.10
UGX
0.03025
0.03625
USD/UGX 2510
2865
TZS
0.04975
0.05575
USD/TZS 1515
1785
INR
AED
1.43040
1.49040
USD/INR 59.10
63.45
22.75
25.75
USD/AED 3.500
3.790
USD
GBP
EUR
JPY
MONEY MARKET RATE
Inter-Bank Overnight rates
USD/CAD 0.95
12.5
1.2550
Current
5.967%
Previous
6.162%
91-day Treasury Bill
8.630%
8.653%
182-day Treasury Bill
8.742%
8.741%
10.380%
10.357%
CBK CBR Rate
8.50%
8.50%
Inflation Rate
Kenya Bankers Ref Rate (KBRR)
6.6%
9.13%
8.36%
1-year Treasury Bill
GBP/USD hit 1.6126 during European morning trade, the
session high; the pair subsequently consolidated at 1.6089,
adding 0.09%.
Cable was likely to find support at 1.6006, Friday's low and
resistance at 1.6227, the high of October 9.
Market sentiment was hit last week after the International
Monetary Fund cut its forecasts for global growth in 2014 and
2015 and warned that global growth may never reach its precrisis levels ever again.
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>
1 Month
3 Month
6 Month
1 Year
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%
CCY
KES
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.