This archive report was first published on 8 June 2020.
Published on June 8, 2020, the Central Bank of Kenya's weekly bulletin for the week ended June 5 revealed that the Kenyan shilling made marginal gains against international currencies.
The shilling exchanged at Ksh106.12 per US dollar on June 4 compared to Ksh 107.03 per US dollar on May 28, marking a slight improvement in the currency's value.
Forex Reserves ¶
According to the CBK, forex reserves remained adequate at Ksh982.7 billion (USD 9,261 million) as of June 4, translating to 5.56 months of import cover.
Meanwhile, in the money markets, commercial banks' excess reserves stood at Ksh32.9 billion, with the average interbank rate declining to 3.12 percent on June 4 from 3.37 percent on May 28.
T-bonds and Bills ¶
During the week, the Treasury floated T-Bills worth Ksh24 billion, receiving bids totaling Ksh50.2 billion, representing a performance of 209.1 percent.
CBK collected Ksh17.78 billion from the auction, while also floating Ksh40 billion five-year and ten-year bonds for budgetary support. The five-year bond had a coupon rate of 11.492 percent, while the ten-year bond had a coupon rate of 12.280 percent.
