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UPDATE 1-Kenyan shilling eases, stocks down
August 12, 2015 / 3:00 PM / 2 years ago

UPDATE 1-Kenyan shilling eases, stocks down

* Shilling seen supported by liquidity crunch
    * Stocks reverse gains made in recent days

 (Adds shilling closing rate, stocks, bonds)
    NAIROBI, Aug 12 (Reuters) - The Kenyan shilling 
weakened slightly on Wednesday due  to dollar demand from the
energy sector, while stocks broke a three-day rally to close
lower.
    At close of trade, commercial banks quoted the shilling at
101.10/20 to the dollar, compared with Tuesday's close of
100.90/101.00.
    "It's slightly weaker. There was a bit of energy demand,"
said a senior trader at one commercial bank.
    The shilling, which is down 10 percent against the dollar
this year, has been stable this week on the back of a shortage
of the local currency in the domestic money markets.
    The weighted average overnight interest rate for banks rose
to 23.5842 percent on Tuesday from 23.0308 percent the previous
day. 
    The central bank has also been aggressively mopping up
liquidity, and sought to mop up 15 billion shillings ($149
million) on Wednesday. It got no bids.
    On the Nairobi Securities Exchange, the main NSE-20 Share
Index was down 20.57 points, or 0.5 percent, to close
at 4,499.06 points.
    Virginia Wairimu, research analyst at Suntra Investment
Bank, said the drop was due to investors for some bluechip
companies cashing in gains made in recent days of rises.
    Oil marketer KenolKobil was down 4.4 percent to
end at 8.60 shillings, while East African Breweries 
was down 1.3 percent to close at 309.00 shillings.
    "If you look at those counters ... we saw an appreciation,
and then now we are seeing a reverse of that. So it's just a
correction," Wairimu said.
    On the secondary market, government bonds valued at 291.15
million shillings were traded, up from 50.95 million shillings
on Tuesday. 
               ...........................Shilling spot rates 
                  .....................Shilling forward rates 
                           .......................Cross rates 
         ..................................Local contributors 
           .......................Central Bank of Kenya Index 
          .....................Kenyan Bonds contributor pages 
                          ...............Treasury bill yields 
        ..................Central bank open market operations 
        .........................Horizontal repo transactions 
         ,       ................Daily interbank lending rate 
              .............................Kenya Bond pricing 
             ..................Real time Africa economic data 
 <ECI & AFR> ...........................African economic news
          .................................NSE-20 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
  SPEED GUIDES:
                                    
            
   ($1 = 100.9000 Kenyan shillings)

 (Reporting by George Obulutsa and Duncan Miriri; Editing by
Digby Lidstone)

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