Central Bank of Kenya weekly bulletin for the week ended June 5 shows that the Kenyan shilling made marginal gains against international currencies. The shilling exchanged at Ksh106.12 per US dollar on June 4 compared to Ksh 107.03 per US dollar on May 28.
Forex reserves
CBK further reveals that forex reserves remained adequate at Ksh982.7 billion (USD 9,261million) translating to 5.56 months of import cover as at June 4.
In the money markets, commercial banks’ excess reserves stood at Ksh32.9 billion with the average interbank rate declining to 3.12 percent on June 4 from 3.37 percent on May 28. The average number of interbank deals per day decreased to 21 from 27 in the previous week, while the value traded decreased to Ksh12.3 billion from Ksh 19.9 in the previous week.
T-bonds and Bills
In the week, Treasury floated T-Bills worth Ksh24 billion receiving bids totaling Ksh50.2 billion representing a performance of 209.1 percent. CBK collected Ksh17.78 billion from the auction.
The week also saw CBK float Ksh40 billion five-year and ten-year bonds for budgetary support. The five-year bond has a coupon rate of 11.492 percent while the ten-year bond had 12.280 percent.
RELATED
CBK Floats KSh 40 Billion Bond for Budget Support
CBK Nets KSh101 Billion from Domestic Market in May
