Yesterday data from the Central Bank of Kenya showed that, for the first time since Thursday last week, the Kenya Shilling strengthened 0.1% against the US dollar to close at KES 84.13 to the US Dollar up from last week’s close of KES 84.23. Against the Sterling Pound the Shilling lost for the second consecutive day to close 0.3% lower at KES 131.79.
For the third consecutive day, the Kenya Shilling weakened against the Euro depreciating 0.2% to close at KES 106.19 compared to Friday’s exchange rate of KES 105.96.
According to a report by Bloomberg posted yesterday, the CBK yesterday accepted a total of 6.2 billion shillings worth of repurchase agreements in the continued effort to curb Kenya’s money supply.
Last week, the Central Bank mopped up 3.6 billion shillings through repo securities and 3 billion shillings through term auction deposits against maturities of 4.8 billion and 7.3 billion shillings respectively, the CBK’s weekly bulletin dated Friday 29th June showed.
Regionally, the Kenya Shilling depreciated 0.14% against the Uganda Shilling to close yesterday at KES 29.42 while the Shilling lost 1 cent against the Tanzania Shilling to exchange at KES 18.72 yesterday compared to last week’s rate of KES 18.71.