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Investors’ interest for Kenyan T-bills surges despite falling yields   

NAIROBI (Xinhua) -- Kenya’s securities maintained a robust performance this week as investors’ appetite towards the papers remained high despite decline in yields.

The Central Bank of Kenya data showed Friday that the 91, 182 and 364 days Treasury bills recorded a total subscription of 215 percent.

This, however, was a decline from 260 percent registered last week but higher than the 210 percent in the previous week.

“The government securities market has maintained a robust performance with Treasury bill auctions continuing to be highly oversubscribed and the interest rates sustaining a downward trend,” noted the apex bank Friday.

In this week’s auction, the bank received total bids worth 515 million U.S. dollars against the sought amount of 240 million dollars.

“Interest rate on the three Treasury bills declined further during the Thursday’s auction, with the 91-day Treasury bill interest rate falling to its lowest level in the year at 7.7 percent from 7.8 percent,” said the Central Bank, adding the yield for the 182 bill stood at 9.66 percent from 9.8 percent while that of 364 bill declined to 10.5 percent from 10.7 percent.

As uptake of the short-term papers surged, the 25-year Treasury bond offered during the week did not attract as much interest from investors.

The Treasury bond received bids totaling 100 million dollars against the 400 million dollars offered.



Kenyan bourse key index falls below psychological 3,300 points

NAIROBI (Xinhua) -- The Nairobi Securities Exchange (NSE) benchmark index on Friday declined to end the week below the psychological 3,300 points.

The NSE 20 Share Index closed the day at 3,299.90 after falling 9.53 points, pulled down by KenGen, Kenya Commercial Bank, Nation Media and British American Tobacco, which declined by between 1.1 percent and 5 percent.

The decline of the stocks was attributed to foreigners exiting some stocks after the companies paid dividends.

During the session, Kenya’s leading telecom Safaricom was the most traded stock, moving 14 million shares, and rose 5.5 percent to 0.27 U.S. dollars.

Athi River Mining, Scangroup, KenyaRe and the self-listed NSE were the other most traded stocks, moving 4.4 million, 3 million, 1.2 million and 988,800 shares respectively.

Some 30 million shares were traded during the session, from 26 million worth 8.6 million dollars in the previous session.


Kenyan shilling gains ground against dollar ending week higher

NAIROBI, (Xinhua) -- The Kenyan shilling gained more ground against the U.S. dollar on Friday to end the week higher.

The local currency traded at an average of 100.85 against the dollar, a rise from 100.95 in the Thursday session.

The Central Bank of Kenya placed the currency at 100.83 to the dollar, a higher position from 100.96 on Thursday.

Commercial banks in the East African nation, on the other hand, quoted the currency at between 100.70 and 100.90 from 100.75 and 100.95.

Currency traders noted the shilling had strengthened, helped by inflows and a tight liquidity in the money market.

The shilling, on the other hand, declined against the Sterling pound to trade at 133.67, a decline from 133.02. Analysts expect the shilling to remain stronger against the dollar in the short-term.

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