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77 Pages«<6364656667>»
Kenya Economy Watch
Swenani
#1281 Posted : Saturday, January 07, 2017 1:35:07 PM
Rank: User


Joined: 8/15/2013
Posts: 11,828
Location: Vacuum
KulaRaha wrote:
Swenani wrote:
Liv wrote:
Ericsson wrote:
Dollar today traded at 103.5 versus ksh


103.80 actually


Closed at 105.2 yesterday


No it didn't. Just touched 104 and CBK came in and sold again. Your bank is fleecing you Laughing out loudly Laughing out loudly Laughing out loudly


Expand your horizon!!

GBP to KES closed at 129 but your CBK is closed at 127

If its fleecing, then I'm the one fleecing them
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
KulaRaha
#1282 Posted : Saturday, January 07, 2017 3:44:09 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,017
Swenani wrote:
KulaRaha wrote:
Swenani wrote:
Liv wrote:
Ericsson wrote:
Dollar today traded at 103.5 versus ksh


103.80 actually


Closed at 105.2 yesterday


No it didn't. Just touched 104 and CBK came in and sold again. Your bank is fleecing you Laughing out loudly Laughing out loudly Laughing out loudly


Expand your horizon!!

GBP to KES closed at 129 but your CBK is closed at 127

If its fleecing, then I'm the one fleecing them


Actually, gbp kes close was at 127.95/128.20.

How are you fleecing anyone?

Business opportunities are like buses,there's always another one coming
Swenani
#1283 Posted : Saturday, January 07, 2017 9:32:54 PM
Rank: User


Joined: 8/15/2013
Posts: 11,828
Location: Vacuum
KulaRaha wrote:
Swenani wrote:
KulaRaha wrote:
Swenani wrote:
Liv wrote:
Ericsson wrote:
Dollar today traded at 103.5 versus ksh


103.80 actually


Closed at 105.2 yesterday


No it didn't. Just touched 104 and CBK came in and sold again. Your bank is fleecing you Laughing out loudly Laughing out loudly Laughing out loudly


Expand your horizon!!

GBP to KES closed at 129 but your CBK is closed at 127

If its fleecing, then I'm the one fleecing them


Actually, gbp kes close was at 127.95/128.20.

How are you fleecing anyone?


"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
Mainat
#1284 Posted : Monday, January 09, 2017 6:33:02 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,582
Window on Eurobond issuance closing fast...
This will be an interesting (chinese version) yr economics-wise. Timing of interest cap reversal now very crucial imho

Sehemu ndio nyumba
aemathenge
#1285 Posted : Monday, January 09, 2017 1:56:26 PM
Rank: Elder


Joined: 10/18/2008
Posts: 2,763
Location: Kerugoya
Name:
Number: 21411
Content:
GetIT411:
CBK: Buy 103.55, Sell 103.76, Mean 103.65
CBA: Buy 103.75, Sell 103.95
SKY FOREX: Buy 103.30, Sell 104.00
Received: 10:04:12am 09/01/2017
Ericsson
#1286 Posted : Tuesday, January 10, 2017 10:21:39 AM
Rank: Elder


Joined: 12/4/2009
Posts: 3,994
Location: NAIROBI
The Kenyan currency could weaken this year compared to 2016 attributed decline in foreign-exchange reserves limiting the central bank of Kenya’s ability to intervene in support of the shilling.

In 2016, the shilling remained resilient, depreciating slightly by 0.1 percent against the USD, having appreciated by 1.2 percent against the dollar during the first half of the year.

This was influenced by the high levels of foreign exchange reserves averaged USD 7.5 billion, equivalent to 4.9 months and improved diaspora remittances, with cumulative 12 months’ inflows to June 2016 increasing by 11.0 percent to USD 1.7 billion from USD 1.5 billion in the year to June 2015 from the Central bank of Kenya data.

However, analysts expect the shilling to be under pressure due to:

One, the strengthening of the dollar in the global market after the Fed rate hike coupled with expectations that the Fed will accelerate its rate-hike cycle in 2017, given that the economy is expected to do even better in 2017,

Two, the continued infrastructure and real estate investments, which require imported capital goods, which will have a negative effect on the current account position,

Three, pressure on the current account position due to increased importation bill, resulting from the recovery of global oil prices following a deal by Oil Producing and Exporting Countries (OPEC) to cut global oil supply,

Four, reduced capital inflows into the capital markets due to uncertainty caused by general elections, and;

Finally, the reduced forex reserves. Currently the reserves stand at USD 7.1 billion equivalent to 4.6 months of import cover.

“Currently the government doesn’t have power to support the Kenyan Shilling. Further, the power and capacity to manage the shilling by the Central Bank of Kenya is limited,” according to Maurice Oduor, Cytonn Investment Manager.

Johnson Nderi, Manager, Corporate Finance and Advisory at ABC Capital Ltd on the contrary says, “CBK doesn’t have limited power to stem inflation. It is the primary cause of inflation.”

And on how far the CBK can go in using the foreign reserves, “I’d say it depends on monetary policy. There’s a cap however on the sum of the current account and the borrowed reserves.”

Foreign-exchange reserves declined to USD6.97 billion at the end of December, the first time they have fallen below $7 billion since January 2016.

Faith Atiti, an economist at Commercial Bank of Africa says if the CBK will not intervene by bolstering the reserves, then the shilling depreciates at a much faster rate.

The Kenya Shilling closed out the week trading around the103.70 Level and that makes a -1.17 per cent slide versus the Dollar since the start of 2017.

“The Kenyan Shilling exhibits less volatility than nearly all of its Sub Saharan Africa peers. Our forex markets are visible, liquid and transparent which is commendable. So, the Shilling has fallen-1.17 percent versus the Dollar since the start of 2017 and-2.167 percent since November 8,” according to Aly-Khan Satchu a Financial Analyst.

Going forward, economic experts expect an upward inflationary pressure to be felt rom both the food and non-food-non-fuel sectors with a projected inflation rate of between 6.7 – 7.2 percent for 2017 but, will be contained within the government target annual range of 2.5 – 7.5 percent.

“The same will not initiate a more radical decision to the economy from the Monetary Policy Committee. The interest rate has stabilised; the currency is trading current (as of Monday) at 103.75 to the Dollar. Nothing should warrant a rate increase from the current 10 percent,” according to Cytonn Investment.

http://sokodirectory.com...gthening-dollar-in-2017/
KulaRaha
#1287 Posted : Tuesday, January 10, 2017 12:20:33 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,017
Shame on you d'oh! Shame on you d'oh! Shame on you d'oh! Shame on you d'oh! Shame on you d'oh!

Business opportunities are like buses,there's always another one coming
alutacontinua
#1288 Posted : Tuesday, January 10, 2017 12:43:49 PM
Rank: Member


Joined: 3/23/2011
Posts: 288
aemathenge wrote:
Name:
Number: 21411
Content:
GetIT411:
CBK: Buy 103.55, Sell 103.76, Mean 103.65
CBA: Buy 103.75, Sell 103.95
SKY FOREX: Buy 103.30, Sell 104.00
Received: 10:04:12am 09/01/2017



Would @aemathenge or anyone have an idea what happened to USDKES on 23rd December??? Nasty bullish pinbar which started the KES slide. Must have been a really volatile session....

https://www.tradingview.com/x/NuoJ06QK/
You dont have to be great to START but you have to start to be GREAT!!!!!!!!
Ericsson
#1289 Posted : Tuesday, January 10, 2017 12:47:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 3,994
Location: NAIROBI
aemathenge wrote:
Name:
Number: 21411
Content:
GetIT411:
CBK: Buy 103.55, Sell 103.76, Mean 103.65
CBA: Buy 103.75, Sell 103.95
SKY FOREX: Buy 103.30, Sell 104.00
Received: 10:04:12am 09/01/2017


What are the indicative rates for today
KulaRaha
#1290 Posted : Tuesday, January 10, 2017 1:02:25 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,017
CBK has been selling $$$ daily to keep it under 104.
Business opportunities are like buses,there's always another one coming
mlennyma
#1291 Posted : Tuesday, January 10, 2017 1:10:43 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,572
Location: nairobi
KulaRaha wrote:
CBK has been selling $$$ daily to keep it under 104.

they don't print dollars, they will exhaust their reserves and hell will break loose
"Don't let the fear of losing be greater than the excitement of winning."
aemathenge
#1292 Posted : Tuesday, January 10, 2017 1:55:31 PM
Rank: Elder


Joined: 10/18/2008
Posts: 2,763
Location: Kerugoya
Name:
Number: 21411
Content:
GetIT411:
CBK: Buy 103.70, Sell 103.90, Mean 103.80
CBA: Buy 103.70, Sell 103.80
SKY FOREX: Buy 103.30, Sell 104.00
Time: 10/01/2017 13:26:49
obiero
#1293 Posted : Tuesday, January 10, 2017 6:02:10 PM
Rank: Elder


Joined: 6/23/2009
Posts: 7,953
Location: nairobi
Only NASA will save us
True friends stab you from the front
murchr
#1294 Posted : Tuesday, January 10, 2017 6:27:26 PM
Rank: Elder


Joined: 2/26/2012
Posts: 11,948
As long as oil prices are going up, the USD will be expensive. You might as well start pumping that ngamia well.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
Dahatre
#1295 Posted : Wednesday, January 11, 2017 7:46:03 AM
Rank: Member


Joined: 12/21/2009
Posts: 481
KulaRaha
#1296 Posted : Wednesday, January 11, 2017 7:56:32 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,017
The shilling is a very simple currency, it tends not to follow economic data, but rather is held hostage to basic liquidity.

When there are dollar inflows, the shilling strengthens, when there are not, it weakens.

When the biggest supplier of dollars in the market is CBK, one get nervous and start wondering how long they can keep it up.

So one buy dollars knowing that the shilling will eventually lose ground.

(and for the profit minded, the interest rate spread between the 2 currencies has narrowed since the glorious rate cap, so one probably won't lose interest income either.)

Business opportunities are like buses,there's always another one coming
aemathenge
#1297 Posted : Wednesday, January 11, 2017 1:17:52 PM
Rank: Elder


Joined: 10/18/2008
Posts: 2,763
Location: Kerugoya
Name:
Number: 21411
Content:
GetIT411:
CBK: Buy 103.73, Sell 103.93, Mean 103.83
CBA: Buy 103.80, Sell 104.00
SKY FOREX: Buy 103.40, Sell 104.00
Time: 11/01/2017 13:06:56
alutacontinua
#1298 Posted : Thursday, January 12, 2017 12:10:48 PM
Rank: Member


Joined: 3/23/2011
Posts: 288
https://www.youtube.com/...v=ko-maQTVP3g&t=35s

Weatherman says no rains expected until April... Sad Sad Sad
You dont have to be great to START but you have to start to be GREAT!!!!!!!!
Ericsson
#1299 Posted : Thursday, January 12, 2017 1:44:21 PM
Rank: Elder


Joined: 12/4/2009
Posts: 3,994
Location: NAIROBI
mlennyma
#1300 Posted : Thursday, January 12, 2017 2:37:05 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,572
Location: nairobi
Ericsson wrote:
https://www.bloomberg.com/news/articles/2017-01-11/kenya-to-raise-1-05b-syndicated-loans-from-international-banks

borrowing appetite
"Don't let the fear of losing be greater than the excitement of winning."
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