Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Kenyan shilling stable held by rising debt yields

12 August 2013, 15:13

Nairobi - The Kenyan shilling held steady on Monday, supported by rising government debt yields which could help the local currency firm later in the week.

Commercial banks quoted the shilling at 87.35/55 per dollar at 0814 GMT, unchanged from Thursday's close of 87.30/50. Kenyan markets were closed on Friday for a national holiday.

The weighted average yield on Kenya's 182- and 364-day Treasury bills rose for the seventh straight week at auction on Wednesday, while the 91-day T-bill jumped to 10.406 percent on Thursday from 8.754 percent at previous sale.

"With the T-bill rates shooting up, that could become supportive for the shilling going forward," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.

The shilling, which has fallen about 1.5 percent this year, has been stuck in a range of 87.25-87.55 for two weeks, largely due to tight liquidity in the money markets.

Join in the conversation on our Facebook page. Also get the latest news by following us on Twitter.

- Reuters


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilwon Ochieng
Deputy Governor's ally found with...

The EACC has recovered KES 2 million in fake currency from a close ally of Deputy Governor for Tharaka Nithi Eliud Mati. Read more...

Submitted by
William Korir
Mudavadi given permission to join...

Musalia Mudavadi has been ghranted permission by his party to join the CORD Coalition. Read more...

Submitted by
Victor Tinto
EACC officers raid Deputy Governo...

EACC officers raided the home of a Deputy Governor as theft case continues in court. Read more...

Submitted by
Wilson Ochieng
New IEBC bosses to be named Novem...

New IEBC bosses will be named on November 30. Read more...

Submitted by
William Korir
DP Ruto has spoilt my name, activ...

DP William Ruto has spoilt my name, activist complains. Read more...

Submitted by
Wilson Ochieng
Apologise for attack on Auditor G...

Apologise for attack on Auditor General, President Uhuru Kenyatta is told by Kisumu Senator Anyang Nyong'o. Read more...