Kenya’s shilling was flat against the dollar on Wednesday, helped by weak demand for the U.S. currency.
At the official market close of 1330 GMT, commercial bank quoted the shilling at 101.75/85 to the dollar, the same as Tuesday’s close. “There was minimal activity today. People are being cautious and there was no huge (dollar) demand,” said a senior trader at one commercial bank.
On the Nairobi Securities Exchange, the main NSE-20 Share Index rose 25.81 points, or 0.7 percent, to close at 3,815.40 points.
Telecoms firm Safaricom, the bourse’s biggest stock by market capitalization, gained 1 percent to close at 15.70 shilling.
Yields Fall
The weighted average yield on Kenya’s 364-day Treasury bills fell to 13.406 percent at an auction on Wednesday from 13.605 percent last week, the central bank said.
The yield on the 182-day bill also on sale dropped to 12.476 percent from 13.251 percent last week.
The bank received bids worth 39.5 billion shillings ($388.40 million) for the 12 billion shillings it offered across the two bonds. It accepted 20.35 billion shillings.
Next week, the bank will sell bills of all maturities worth a total 16 billion shillings in two separate auctions.
Source: Reuters
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