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UPDATE 1-Kenyan shilling firm, supported by dollar inflows chasing yields

Published 24/10/2015, 01:50 am
© Reuters.  UPDATE 1-Kenyan shilling firm, supported by dollar inflows chasing yields
FTFNKEN1
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FTFNKEN2
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NSE20
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NASI
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(Adds shilling, equity market close)

NAIROBI, Oct 23 (Reuters) - Kenya's shilling firmed on Friday, supported by dollar inflows from offshore investors chasing rising yields on Treasury bills.

The benchmark share index closed slightly higher.

By the 1330 GMT close, the shilling was quoted at 102.15/25 to the dollar, compared to Thursday's close of 102.10/30. The currency has climbed in past weeks after sliding in September close to a 2011 all-time low of 106.80 to the greenback.

"We have seen some decent inflows chasing yields," said one senior trader, citing T-bill yields on 91-day, 182-day and 364-day bills that rose above 22 percent at auction this week.

"Upwards of 20 percent is attracting some offshore interest, as well as some local interest," he said, although he said a further strengthening in the shilling could be checked as dollar buyers tended to emerge once the shilling reached the 102 level.

The benchmark NSE 20 index .NSE20 finished up 17.09 points at 3,952.97 points.

In the debt market, bonds worth 162.5 million shillings were traded, down from the previous day's 543.6 million shillings.

KES= KES1= ...........................Shilling spot rates

KESF= 0#KESF= .....................Shilling forward rates

EURKES= KESX= KESX1= .......................Cross rates

KES=KE ..................................Local contributors

CBKINDEX .......................Central Bank of Kenya Index

KE/DEBT .....................Kenyan Bonds contributor pages

CBK03 CBK06 KE3MTB= ...............Treasury bill yields

CBK04 ..................Central bank open market operations

CBK07 .........................Horizontal repo transactions

KEIBR= , CBK02 ................Daily interbank lending rate

0#KETSYSTR= .............................Kenya Bond pricing

ECONAFRICA ..................Real time Africa economic data ...........................African economic news .NSE20 .................................NSE-20 Share Index .NASI .................................NSE All Share Index .FTFNKEN1 ...........................FT NSE Kenya 15 Index .FTFNKEN2 .......................... FT NSE Kenya 25 Index SPEED GUIDES: REUTERS KES/1 KE/DEBT MONEY

KE/EQUITY

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