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Ksh at its weakest since it floated in 1994

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hisah		#231 Posted : Thursday, September 22, 2011 12:50:01 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		http://www.forexpros.com/currencies/usd-kes - 98.20 and counting... Going once, twice... gone! $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mainat		#232 Posted : Thursday, September 22, 2011 12:56:05 PM
Rank: Veteran Joined: 11/21/2006 Posts: 1,590		Hisah-short term suggestions on how to give Ksh some steel? I believe if we get to 110, we'll have stagflation with short-term T-bill topping 20%. Sehemu ndio nyumba
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tonicasert		#233 Posted : Thursday, September 22, 2011 12:57:26 PM
Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi		With EURUSD having broken 1.35 support and DXY well above 78.00, this dollar strength is not relenting.
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kizee1		#234 Posted : Thursday, September 22, 2011 2:15:05 PM
Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi		Mainat wrote: Hisah-short term suggestions on how to give Ksh some steel? I believe if we get to 110, we'll have stagflation with short-term T-bill topping 20%. sell reserves?
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hisah		#235 Posted : Thursday, September 22, 2011 2:23:10 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		tonicasert wrote: With EURUSD having broken 1.35 support and DXY well above 78.00, this dollar strength is not relenting. I believe the dollar squeeze has just started like in Sept 2008... Look at the commodo currencies, totally knocked out today. And the commodities themselves oil, copper, gold et al are also taking the knock. I'm shocked to see USDZAR has already broken above my 8.20 target in a span of 4 days. The USDSGD is equally moving fast. With DXY rallying to 78, definitely funds are hurriedly being unwound on carry trades... Is the PIIGS default drama just about to be announced... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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tonicasert		#236 Posted : Thursday, September 22, 2011 3:24:45 PM
Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi		Emerging markets positions and commodities are bearing the brunt of sentiment deterioriation, even the CNH hasn't survived this one. Option vols are also breaking 2 years high to post-2008 levels. Any CBK intervention at this point will just be diluted by the mkt, IMHO. But as soon as market settles (when??), they should aggressively intervene in the FX mkt. Just a thought: Can CBK coordinate with IMF when mkts settle, and say borrow USD from them to intervene heavily in a bid to save the country from the effects of a weak KES, but at the expense of exchange losses (repayment)which may be mitigated by the size...
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Mainat		#237 Posted : Thursday, September 22, 2011 3:25:20 PM
Rank: Veteran Joined: 11/21/2006 Posts: 1,590		kizee1 wrote: Mainat wrote: Hisah-short term suggestions on how to give Ksh some steel? I believe if we get to 110, we'll have stagflation with short-term T-bill topping 20%. sell reserves? IMF requires us to hold 3-4 months import cover before we can access its funding Sehemu ndio nyumba
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kizee1		#238 Posted : Thursday, September 22, 2011 3:51:47 PM
Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi		99.25 paid, IMF shud go to hell! infact IMF are the 1s who put as here
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cnn		#239 Posted : Thursday, September 22, 2011 3:57:06 PM
Rank: Veteran Joined: 6/17/2009 Posts: 1,627		kizee1 wrote: 99.25 paid, IMF shud go to hell! infact IMF are the 1s who put as here Seen that too,does CBK have much choice here?
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guru267		#240 Posted : Thursday, September 22, 2011 3:59:57 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		kizee1 wrote: 99.25 paid, IMF shud go to hell! infact IMF are the 1s who put as here As an exporter.. All I can say is OH HAPPY DAY!!!!!!! Mark 12:29 Deuteronomy 4:16
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