This archive report was first published on 29 June 2020.
Published on June 29, 2020, the Kenyan shilling remained stable against major international and regional currencies in the week ending June 26.
The shilling averaged KSh106.36 against the US Dollar, KSh132.45 against the sterling pound, KSh119.76 against the Euro, and KSh99.65 against the Japanese Yen.
As of June 25, foreign exchange reserves remained adequate at $9,229 million, translating to 5.55 months of import cover.
The money market was liquid during the week, supported by government payments that offset tax receipts.
Commercial banks' excess reserves stood at KSh41.1 billion in relation to the 4.25 percent cash reserves requirement (CRR).
The average interbank rate was 3.89 percent on June 25, with the average number of interbank deals per day increasing to 21 from 11 in the previous week.
CBK auctioned treasury bills seeking to raise KSh24 billion in the week, receiving bids totaling KSh59 billion, representing a performance of 245.6 percent.
CBK accepted KSh13.8 billion of the bids, with the 91-day T-bills seeking to raise KSh4 billion and receiving bids totaling KSh16.481 billion.
The government's net borrowing target for FY2019/20 was KSh409.7 billion, which has been achieved, with domestic borrowing amounting to KSh506.981 billion as of May 29, 2020.
