Currency updates from Wednesday’s session
Money markets were liquid today with overnight and one-week trades averaging at 10.00% and 10.42% respectively.
Currency updates from Wednesday’s session
By Ali Twaha
Journalists @New Vision
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Balanced demand and supply kept the shilling at bay, trading at 3635 / 3645 levels all day.
Money markets were liquid today with overnight and one-week trades averaging at 10.00% and 10.42% respectively.
Effective yields from today’s Treasury bill auction dropped on the 91-day and 182-day maturities by 25 and 7.2 basis points, respectively, clearing at 12.005% and 12.627%, respectively, compared to the previous auction.
The 364-day remained flat at 15.503% in an auction where a total of sh423b in face value was accepted.
In the global currency market, the U.S. dollar slipped lower Wednesday on declining trade optimism according to international news agencies.
The Dollar Index, which tracks the greenback against a basket of six other currencies, dropped 0.2% to 99.002.
The Trump administration according to news reports has given a Wednesday deadline for countries to submit their best offers on trade, but the president has also signed a doubling of duties to 50% on imported steel and aluminium.