March 23, 2020 / 10:00 AM / 14 days ago

Kenyan shilling edges down as investors flee to safety

    NAIROBI, March 23 (Reuters) - The Kenyan shilling
inched down against the dollar on Monday as investors continued
to shun risky assets due to the coronavirus outbreak, traders
said. 
    At 0930 GMT, commercial banks quoted the shilling at
106.50/107.00 per dollar, down from Friday's close of 106.10/30.
The wider spread is usually a sign of extreme volatility.
    "It is still one way, the flight to safety," said a senior
currency trader at a commercial bank.
    The shilling fell close to its record low on Friday due to
concerns about the impact of the coronavirus outbreak, prompting
the central bank to sell dollars to banks in a bid to stem the
volatility.
    The shilling is also being whipped by the negative
sentiments and steep falls in global financial markets, traders
said.
    The East African nation has reported 15 cases of the
COVID-19 disease caused by the virus, and the government has
ordered a stop to all international passenger flights from
Wednesday to control the spread of the disease.
    The central bank is scheduled to announce its rate decision
at about 1330 GMT on Monday after a meeting of its monetary
policy committee. 
               ...........................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
          .................................NSE-20 Share Index
          .................................NSE-25 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
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 (Reporting by Duncan Miriri)
  
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