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USD at 90.00
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Genghis Khan
#31 Posted : Thursday, June 16, 2011 9:05:11 AM
Rank: Member

Joined: 8/5/2010
Posts: 335
Location: Nairobi
Genghis Khan wrote:

CBK Governor Prof. Njuguna Ndung’u wrote:
We will consider re-opening the 30-year bond some time to come in order to forestall any further fall in the savings rate.


REALLY...

Our professor is implying that Kenyans are not saving adequately because we have inadequate investment vehicles???? How would I buy a 30yr bond if I have a problem saving?

CLOWNS in the circus we call government!


And in the same breadth he also says
CBK Governor Prof. Njuguna Ndung’u wrote:
This means that whereas income has been rising in tandem with overall economic growth, the disposable part saved has been slowing down.
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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  | | Edit by user: Thursday, June 16, 2011 9:41 AM | Reason: Not specified
tonicasert
#32 Posted : Thursday, June 16, 2011 9:27:02 AM
Rank: Member

Joined: 3/10/2008
Posts: 301
Location: Abu Dhabi
CBK is sleeping on the job. By saying that they will not participate in the market gives speculators some comfort to sell the Shilling. They should otherwise give some vague but cautious statement as other CB in the world due.
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2 Miles
#33 Posted : Thursday, June 16, 2011 9:45:05 AM
Rank: Member

Joined: 10/26/2010
Posts: 125
I seriously think someone is not doin his/her job correctly.

The importation of wheat and maize has led to high demand for dollars,thus weakening the shilling.
Plus many other reasons.

But the technocrats in treasury and CBK know the effect of a weak shilling on the poor( of which Kenya's majority are.) They know the effect of such policies on the economy.

But their response is wanting. There is no urgency in tackling this sad reality. The shilling has been weakening day by day, but we are yet to see any serious interevention that is going to cushion the common mwananchi.
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kizee1
#34 Posted : Thursday, June 16, 2011 10:55:49 AM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
why cant CBK sell reserves? they tried to tighten liquidity and that didnt work, so it means its a demand supply mismatch? USD 4bn in reserves and they still dont think thats enough!
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RVP
#35 Posted : Thursday, June 16, 2011 2:02:07 PM
Rank: New-farer

Joined: 5/3/2010
Posts: 69
We have crossed the Rubicon. Already past 90.50

http://www.xe.com/curren...&to=KES&view=1D

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FUNKY
#36 Posted : Thursday, June 16, 2011 2:06:25 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
Someone is not being realistic now....i cant believe the dollar has crossed above 90/-...and still if the so called Kenyan government and CBK does not intervene the wanainchi are really going to see bad days ahead.
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RVP
#37 Posted : Thursday, June 16, 2011 2:09:17 PM
Rank: New-farer

Joined: 5/3/2010
Posts: 69
Long term not good. But service exporters are making a killing. Goods exporters too though tempered by the cost of fuel and freight.

FUNKY wrote:
Someone is not being realistic now....i cant believe the dollar has crossed above 90/-...and still if the so called Kenyan government and CBK does not intervene the wanainchi are really going to see bad days ahead.
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kizee1
#38 Posted : Thursday, June 16, 2011 2:19:52 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
RVP wrote:
We have crossed the Rubicon. Already past 90.50

http://www.xe.com/curren...&to=KES&view=1D




liquidity has disappeared and market has ground to a halt, last time this happended was during PEV era, CBK will do nothing as usual...
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FUNKY
#39 Posted : Thursday, June 16, 2011 2:21:06 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
The best option available right now is to PEG the Kenya shilling to the dollar.
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Genghis Khan
#40 Posted : Thursday, June 16, 2011 2:22:03 PM
Rank: Member

Joined: 8/5/2010
Posts: 335
Location: Nairobi
kizee1 wrote:
why cant CBK sell reserves? they tried to tighten liquidity and that didnt work, so it means its a demand supply mismatch? USD 4bn in reserves and they still dont think thats enough!


I imagine its a cushion to weather out 2012 elections...
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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