PRIME Shilling holds steady despite globally weakening dollar CBK data shows the shilling opened the month trading at an average of Sh129.19 to the dollar, and closed out the period at the same rate.
PRIME Strong shilling, jet fuel demand lift Rubis sales 9pc in first half of year Rubis says that increased demand for aviation fuel helped ease the impact of the dip in consumption of diesel and petrol in the first half of the year.
PRIME Kenyan banks see forex losses from subsidiaries Subsidiaries prepare financial statements in their local currency, but it is translated into shillings when they are consolidated into the group.
PRIME Fitch downgrades KCB, NCBA and I&M on State debt risk It has downgraded the ratings of the banks and their bank holding firms given their high sovereign exposure.
MPs summon Thugge over ‘secret’ currency printing contract He told the media that the printing was being done by “one of the best firms” in Germany.
Crypto investors jittery over market turbulence Since last Wednesday, the crypto market has been in a downward trajectory.
PRIME Fitch downgrades Kenya's credit rating, risking market sell-off It becomes the second major rating agency to take a dim view of the country's debt.
PRIME Analysts see bigger selloffs if Fitch cuts Kenya credit rating Fitch is set to publish its own decision on Kenya at midnight on August 3, with the third of the major rating agencies, S&P, due to issue an opinion on August 23.
CMA mulls adopting USSD code to ease market access CMA sees the introduction of a USSD code as a significant means of unlocking access to market information, allowing increased participation by domestic investors.
Debt servicing costs rise by Sh435 billion on weak shilling The high cost of servicing the public debt is a result of expensive commercial borrowing by the government over the past decade.
PRIME Simmering political tensions pull shilling into fresh slump The depreciation now risks setting up consumers for a new wave of currency-driven price increases on imported commodities.
Forex reserves fall Sh64bn on foreign debt repayments Kenya used Sh56.8 billion to service a loan from China for building the SGR.
Shilling under pressure after Cabinet purge, rating downgrade On Friday, the Central Bank of Kenya (CBK) quoted the shilling at Sh129.25 to the dollar, compared to Sh128.50 at the beginning of the week.
Kenya shilling now extends gain against regional currencies Central Bank of Kenya (CBK) data showed one Kenyan shilling was averaging Ush28.79, Tsh20.66 and Rwf10.22 at the start of trading on Tuesday.
PRIME Shilling gain cuts Kenya’s external debt by Sh926bn Kenya’s external debt shrunk by Sh926.1million in the three months to March.
Current account deficit drops to 4pc on higher national output The current account records Kenya’s transactions with the rest of the world and specifies net trade in goods and services, payments and cross-border investments.
Foreign currency loans, deposits fall by Sh505bn The fall in foreign currency loans and deposits is a relief to banks after the International Monetary Fund (IMF) warned of high exposure.
How US is daring the world to find a dollar alternative Consternation is growing, both at home and abroad, about the consequences of US hubris.
PRIME How Thugge’s shilling exploits have earned him African Central Banker fete The recognition follows interventions overseen by the CBK Governor to end the sharp depreciation in the exchange rate.
PRIME How wealthy Kenyans lost Sh99bn in dollar bank accounts in a month Wealthy Kenyans, traders, and businesses took a Sh98.9 billion hit as the value of foreign currency deposits plunged.
Absa feels pinch as weak shilling inflates debt load by Sh4 billion The weakening of the shilling lifted Absa Bank Kenya’s debt load by Sh4.2 billion to Sh24.02 billion
Dollar rally drives shilling to 5-day weakening streak Data from CBK shows that one dollar was exchanging for 131.44 shillings by end of last week.
Shilling is gaining value, but it won’t last Kenya operates a floating exchange rate regime. This means that the value of the shilling is determined by market demand and supply.
How Kenya shilling became best performer in sub-Sahara Africa The higher benchmark lending rate by the CBK has amounted to a defense of the shilling.
Prices of imported used cars to drop on strong shilling Prices of imported used cars are projected to drop by at least Sh100,000 from June.
