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Kenya Shilling Strong?
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VituVingiSana
#1 Posted : Wednesday, May 06, 2009 3:31:00 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
What is behind the recent (sudden) strength of the KShs? Esp vs the US$?

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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caesar
#2 Posted : Wednesday, May 06, 2009 8:09:00 PM
Rank: Member

Joined: 5/25/2007
Posts: 149
For Currency Guru's: What is going on with the Shilling?
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jerry
#3 Posted : Thursday, May 07, 2009 4:28:00 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
B4 the experts ans I would say it could be that Obama has printed dollars and so it's the dollar that is weakening. Bad for exporters like in tea and coffee ind. Imports,like of cars,will b cheap!

Ecs 11.2 Give portions to seven,yes to eight,for you do not know what disaster may come upon the land.
The opposite of courage is not cowardice, it's conformity.
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gladie
#4 Posted : Thursday, May 07, 2009 7:40:00 AM
Rank: Member

Joined: 6/29/2007
Posts: 8
its now at 76.00.and i beleive it will now go lower

gladie
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kizee
#5 Posted : Thursday, May 07, 2009 7:53:00 AM
Rank: Member

Joined: 1/9/2008
Posts: 537
pole gladie....75.80*90 traded....the move looks like some unwinding...funding a short kes position has become impossible for some offshores and theyve closed their shorts...i think too many people took some wrong bets on the kes
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Wendz
#6 Posted : Thursday, May 07, 2009 11:58:00 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
Thats not very good news!!!!!!!!!!!!!!!!!!!!!

Some deals are like glass. Sometimes it's better to leave them broken than try to hurt yourself putting it back together.
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jerry
#7 Posted : Thursday, May 07, 2009 12:14:00 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
@kizee. Sorry for what? Wedz. You must be an exporter or something. I'm also in a sector adversly affected by a strong sh but Kenya is a net importer.

Ecs 11.2 Give portions to seven,yes to eight,for you do not know what disaster may come upon the land.
The opposite of courage is not cowardice, it's conformity.
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Fundaah
#8 Posted : Thursday, May 07, 2009 1:09:00 PM
Rank: Elder

Joined: 11/19/2008
Posts: 1,267
Recent 5 year grant to the country for infrastructure development may have some bearing to the shilling strenghtening .Otherwise agricultural exports and tourism sectors quiet for now


I mean fundamental analysis,you get me?

Fundamental analysis of a business involves analyzing its financial statements and health,its management and competitive advantages,and its competitors
Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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kizee
#9 Posted : Thursday, May 07, 2009 1:16:00 PM
Rank: Member

Joined: 1/9/2008
Posts: 537
at 80 kes was way oversold...especialy given the net funding cost of carry...anyway closed at 77.40*50...cbk buying and kes still rallyin..makes one wonder
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Kwanini
#10 Posted : Thursday, May 07, 2009 1:38:00 PM
Rank: Member

Joined: 1/28/2009
Posts: 353
Location: Cloud
The importer$ are celebrating,whatever the cau$e.
I$ichi ha$ the be$t exchange rate$... it'$ a capitalist$ world!! or ha$ it got $ometin to do with our bro$ doing $tuff at the gulf of aden wit their $atellite phone$,GPS $ystem$ and bazooka'$??



For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
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