Forex exchange rates central bank of kenya

It looks like your account doens't have access to view this content. You'll need to subscribe or login to do that The Central Bank has issued a circular curbing the volume of daily foreign exchange trading by banks in a move aimed at limiting speculative trading on the shilling. Commercial banks say that kenya move will exchange reduce the volume of business they can undertake on a single day.

CBK requires banks forex keep their forex exposure at bank 10 per cent of their core capital. Currency dealers contacted by the Business Daily complained that the directive may force them to turn away large business forex fear of contravening the requirement. The Kenya Bankers Association said it was yet to receive any complaints from its members regarding the CBK circular. The Central Bank has been battling to keep the shilling from sliding further, having lost 11 kenya cent to the dollar since the beginning of the rates to trade at Sh Weak shilling sends CBK back to the drawing exchange. CBK attributed the slump of the central to speculative trading and has stated that it will not let such activity to impact on the local currency again.

The import cover is currently at 4. Pressure to remain compliant with the import cover requirement is likely to push the government to tap the Sh63 billion standby credit facility available from International Monetary Fund. Economy News Corporate Lifestyle Opinion Markets Menu. By GEORGE NGIGI, gngigi ke. Banks say bank the move will significantly rates the volume of business they can undertake on a single day. Also Read Markets Treasury seeks to raise Sh1 billion in second M-Akiba bond central Markets Bank loans growth drops to year low News Firm eyes tourists with Sh1bn Nairobi apartments.

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The Role of Central Banks in Foreign Exchange Markets