CBK Weekly Highlights – August 10, 2012

The money market was relatively liquid during the week ending August 8, 2012. The Central Bank sterilized the excess liquidity in the money market by mopping Ksh 13.2 billion through repo securities and Ksh 1.1 billion through term auction deposits against repo maturities of Ksh 9.2 billion and term auction deposits maturities of Ksh 9.6 billion.

The average interbank rate decreased to 10.53 percent during the week ending August 8, 2012 compared with 11.31 percent in the previous week reflecting improved liquidity in the money market.

The Kenya Shilling depicted mixed performance against major international currencies in the week ending August 9, 2012. Against the US dollar the Kenya Shilling appreciated by 0.13 percent to trade at Ksh 84.22.

The usable official foreign exchange reserves held by the Central Bank decreased from US dollar 4,976 million (equivalent to 4.07 months of import cover) in the week ending August 2, 2012 to US dollar 4,967 million (equivalent to 4.06 months of import cover) in the week ending August 9, 2012.

The Government offered for sale Treasury bills worth Ksh 15.0 billion during the week ending August 10, 2012. Bids worth Ksh 37.9 billion were received out of which 17.6 billion were accepted.

Gross Government domestic debt increased by Ksh 13.8 billion to stand at Ksh 872.7 billion on August 3, 2012, from Ksh 858.8 billion at the end of June 2012. During the week under review, gross Government domestic debt increased by Ksh 11.4 billion, on account of Treasury bonds.

Stock market performance was robust in the week ending August 9, 2012 as reflected by gains in most of the market indicators. All share indices were up except the NSE 20 Share Index which slid by 1.59 points. The NASI was up 0.88 points, FTSE NSE 15 Index rose 1.42 points and FTSE NSE 25 added 1.77 points. Equity turnover increased by 4.1 percent as supply of shares rose 25.4 percent. Market capitalization edged up 1.1 percent maintaining the trillion mark.

Similarly the bonds market activity was on the rally recording a 49.4 percent jump in turnover.

(COPYRIGHT: CBK)

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