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.


Shilling boosted by dollar inflows to buy government debt

24 October 2015, 08:47

Nairobi - The Kenya shilling strengthened further on a steady inflow of dollars to be used for buying the country’s high-yielding government debt.  At 10.05am Thursday, commercial banks posted the shilling at 101.80/102.00 to the dollar, tightening up from Wednesday’s close of 102.00/10.

“We have seen huge interest in the government securities from offshore investors,” said a trader at one Nairobi-based commercial bank.

In recent weeks traders have reported growing dollar inflows from foreign investors who have been attracted by interest rates on government Treasury bills of more than 20 per cent, far above what Kenya usually pays for short-term debt.

At the Weekly Treasury bill auction on Wednesday, the yield on the 364-day bill jumped to 22.36 per cent from 21.88 per cent a week ago, while that on the six-month bill jumped to 22.29 per cent from 21.84 per cent.

The currency, down about 14 per cent against the dollar in 2015, has weakened consistently over the last year due to a decline in tourism, a major foreign currency earner, and a high current account deficit.

For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!

- News24


Read more from our Users

Submitted by
Victor Tinto
Man who attacked US Embassy a 24 ...

A man who attacked the US Embassy in Nairobi was a 24 year old from Wajir County. Read more...

Submitted by
Victor Tinto
US Embassy to remain closed Frida...

The US Embassy in Nairobi will remain closed Friday following a terror attack on it Thursday. Read more...

Submitted by
Victor Tinto
Leave ODM if you are unhappy, Rai...

Leave ODM if you are not happy, Raila Odinga tells Senator. Read more...

Submitted by
Victor Tinto
Former Assistant Minister joins J...

A former Assistant Minister has quit PNU and joined the Jubilee Party. Read more...

Submitted by
Victor Tinto
DP Ruto intervenes as Kerio Valle...

DP William Ruto will visit Kerio Valley to try solve never-ending clashes between local residents. Read more...

Submitted by
Wilson Ochieng
ODM MP chased down by angry Kibra...

Kibra MP Ken Okoth had a hard time in his constituency after angry youth pelted him with stones. Read more...