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USD/KES $ at 95
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KulaRaha
#151 Posted : Tuesday, July 21, 2015 7:26:54 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Trouble looming: very high interest rates with a very weak local currency.
Business opportunities are like buses,there's always another one coming
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muganda
#152 Posted : Tuesday, July 21, 2015 4:34:12 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
KulaRaha wrote:
Trouble looming: very high interest rates with a very weak local currency.

Seems Thursday meeting is as good a motivator as any for CBK and its governor to force the exchange rate DOwn.

mohawk Haircut: Usd/Kes closes at 101.410
(first time since 09-Jul, one and a half weeks ago)
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KulaRaha
#153 Posted : Tuesday, July 21, 2015 4:45:24 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Yeah, at 15% overnight rates, the shilling will get some respite, temporarily.
Business opportunities are like buses,there's always another one coming
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muganda
#154 Posted : Tuesday, July 21, 2015 6:42:11 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Meanwhile, the Usd/Kes becomes a political tool...
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maka
#155 Posted : Thursday, July 23, 2015 9:14:18 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
http://www.businessdaily.../-/10ievmi/-/index.html

Will this work?
possunt quia posse videntur
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kizee1
#156 Posted : Thursday, July 23, 2015 9:25:54 AM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
maka wrote:
http://www.businessdailyafrica.com/CBK-curbs-banks--daily-forex-trade-to-save-the-shilling/-/539552/2803268/-/10ievmi/-/index.html

Will this work?


it wont do anything to strengthen the KES all it will do is give an undue advantage to banks with sizeable capital bases, net loser will be buyers/sellers of FX
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Cde Monomotapa
#157 Posted : Thursday, July 23, 2015 9:31:47 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
kizee1 wrote:
maka wrote:
http://www.businessdailyafrica.com/CBK-curbs-banks--daily-forex-trade-to-save-the-shilling/-/539552/2803268/-/10ievmi/-/index.html

Will this work?


it wont do anything to strengthen the KES all it will do is give an undue advantage to banks with sizeable capital bases, net loser will be buyers/sellers of FX


Those sizeable banks are the main dealers @kizee1. Let's see. Test the mettle of the new CB. Last time it was closing the interest rate arbitrages.
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Othelo
#158 Posted : Thursday, July 23, 2015 9:36:06 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
kizee1 wrote:
maka wrote:
http://www.businessdailyafrica.com/CBK-curbs-banks--daily-forex-trade-to-save-the-shilling/-/539552/2803268/-/10ievmi/-/index.html

Will this work?


it wont do anything to strengthen the KES all it will do is give an undue advantage to banks with sizeable capital bases, net loser will be buyers/sellers of FX

Definately will favour the big boys who in any case have massive backing offshore!!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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hisah
#159 Posted : Thursday, July 23, 2015 1:13:25 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
FX blackmarket will go vertical...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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kizee1
#160 Posted : Thursday, July 23, 2015 5:01:42 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
Othelo wrote:
kizee1 wrote:
maka wrote:
http://www.businessdailyafrica.com/CBK-curbs-banks--daily-forex-trade-to-save-the-shilling/-/539552/2803268/-/10ievmi/-/index.html

Will this work?


it wont do anything to strengthen the KES all it will do is give an undue advantage to banks with sizeable capital bases, net loser will be buyers/sellers of FX

Definately will favour the big boys who in any case have massive backing offshore!!!!


true, however the cost of shorting the KES with cbk rules of 2011 is painful, ultimately it will be very hard to enforce, FX delers r cheeky chaps
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