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USD/KES $ at 95
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mazingira
#1 Posted : Thursday, May 07, 2015 8:37:21 AM
Rank: Member

Joined: 10/26/2012
Posts: 136
$ at 95

With the US $ hitting 95 , Sterling touching 145 and the Euro 107 all imports just got hit , next comes the 15th when we need a few million dollars for fuel , a further outflow , power bills are all going to be adjusted TWICE remember forex adjustment and fuel adjustment levy.

Basically everything (since we are a nett importing country) just got more expensive thanks to this. INFLATION INFLATION INFLATION.

This has to be curbed , dont forget theres the first payment that should be going out for the Eurobond in a few months time and thats BIG money . If the dollar isnt controlled before that were looking at that 107 again and its trimmings
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Paul Owuor
#2 Posted : Thursday, May 07, 2015 8:41:57 AM
Rank: New-farer

Joined: 7/3/2011
Posts: 30
Location: Nairobi
mazingira wrote:

With the US $ hitting 95 , Sterling touching 145 and the Euro 107 all imports just got hit , next comes the 15th when we need a few million dollars for fuel , a further outflow , power bills are all going to be adjusted TWICE remember forex adjustment and fuel adjustment levy.

Basically everything (since we are a nett importing country) just got more expensive thanks to this. INFLATION INFLATION INFLATION.

This has to be curbed , dont forget theres the first payment that should be going out for the Eurobond in a few months time and thats BIG money . If the dollar isnt controlled before that were looking at that 107 again and its trimmings

The CBK should sell dollars to commercial banks but I am doubtful as to whether it has enough reserves.
I used to be a pig but I am now a bull-bear hybrid.
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KulaRaha
#3 Posted : Thursday, May 07, 2015 8:47:00 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
95 was the target for year end, but has come in May.

Interest rates will rise soon.
Business opportunities are like buses,there's always another one coming
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mazingira
#4 Posted : Thursday, May 07, 2015 8:58:25 AM
Rank: Member

Joined: 10/26/2012
Posts: 136
KulaRaha wrote:
95 was the target for year end, but has come in May.

Interest rates will rise soon.


Correct , its the only way monetary policy can control inflation but also Agri exports and tourism incomes are down Y.O.Y , i doubt CBK mopping excess liquidity of which there is none in Ksh will do much to help the forex counter.

How much does CBK have to send out to the Eurobond investors , Remebering it was purchased in dollars not Euros?
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Swenani
#5 Posted : Thursday, May 07, 2015 9:53:32 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
mazingira wrote:
KulaRaha wrote:
95 was the target for year end, but has come in May.

Interest rates will rise soon.


Correct , its the only way monetary policy can control inflation but also Agri exports and tourism incomes are down Y.O.Y , i doubt CBK mopping excess liquidity of which there is none in Ksh will do much to help the forex counter.

How much does CBK have to send out to the Eurobond investors , Remebering it was purchased in dollars not Euros?


CBK retained the CBK lending rate at 8.5% while the KBRR is 8.54% which is due for revision in July 2015
If Obiero did it, Who Am I?
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Ericsson
#6 Posted : Thursday, May 07, 2015 10:14:06 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,815
Location: NAIROBI
US$:Ksh now at 95.3
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#7 Posted : Thursday, May 07, 2015 10:43:45 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Do I wait importing my dream car or things will get worse????????
"Don't let the fear of losing be greater than the excitement of winning."
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Boris Boyka
#8 Posted : Thursday, May 07, 2015 10:52:08 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
Swenani wrote:
mazingira wrote:
KulaRaha wrote:
95 was the target for year end, but has come in May.

Interest rates will rise soon.


Correct , its the only way monetary policy can control inflation but also Agri exports and tourism incomes are down Y.O.Y , i doubt CBK mopping excess liquidity of which there is none in Ksh will do much to help the forex counter.

How much does CBK have to send out to the Eurobond investors , Remebering it was purchased in dollars not Euros?


CBK retained the CBK lending rate at 8.5% while the KBRR is 8.54% which is due for revision in July 2015

I will be caught up in that revision!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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KulaRaha
#9 Posted : Thursday, May 07, 2015 11:28:40 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
mlennyma wrote:
Do I wait importing my dream car or things will get worse????????


Things should get worse.
Business opportunities are like buses,there's always another one coming
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Rongla
#10 Posted : Thursday, May 07, 2015 1:22:55 PM
Rank: Member

Joined: 10/3/2008
Posts: 101
KulaRaha wrote:
mlennyma wrote:
Do I wait importing my dream car or things will get worse????????


Things should get worse.


The age limit on imported cars is under revision. The Government wants to reduce the age limit from 8 years to 5 years. This will essentially make Imported Second hand cars very expensive as the import duty alone will probably average Kshs 1 Million. The thinking here is they want to cut down on the number of cars on the roads, reduce pollution from emissions and KRA to continue raking in handsomely.
This will be probably at the beginning of 2016
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