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USD/KES $ at 95
Rank: Member Joined: 10/26/2012 Posts: 136
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$ 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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Rank: New-farer Joined: 7/3/2011 Posts: 30 Location: Nairobi
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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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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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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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Rank: Member Joined: 10/26/2012 Posts: 136
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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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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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US$:Ksh now at 95.3 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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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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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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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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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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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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Rank: Member Joined: 10/3/2008 Posts: 101
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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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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Rongla wrote: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 they are thinking stupidly,what matters in the condition of a vehicle is not when it was manufactured but how its used after manufacture,you can have a very bad 2010 car and very good 2008 car "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Veteran Joined: 4/4/2007 Posts: 1,162
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For exporters, a weak shilling is good news
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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mlennyma wrote:Rongla wrote: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 they are thinking stupidly,what matters in the condition of a vehicle is not when it was manufactured but how its used after manufacture,you can have a very bad 2010 car and very good 2008 car Jinga thinking... possunt quia posse videntur
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Rank: Member Joined: 10/26/2012 Posts: 136
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It will be a blessing to make it 5 years at least there wont be so many cars on our roads and the genuine dealers i.e. dobies , toyota and others will do better as re-cons will become less attractive as they get more expensive
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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KulaRaha wrote:95 was the target for year end, but has come in May.
Interest rates will rise soon. Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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mazingira wrote:It will be a blessing to make it 5 years at least there wont be so many cars on our roads and the genuine dealers i.e. dobies , toyota and others will do better as re-cons will become less attractive as they get more expensive you are wrong,the number of cars will continue to increase "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 10/3/2008 Posts: 101
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maka wrote:mlennyma wrote:Rongla wrote: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 they are thinking stupidly,what matters in the condition of a vehicle is not when it was manufactured but how its used after manufacture,you can have a very bad 2010 car and very good 2008 car Jinga thinking... Well , Most Kenyan government policies are not well thought out. unfortunately Nothing is thought of critically.
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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mazingira wrote:It will be a blessing to make it 5 years at least there wont be so many cars on our roads and the genuine dealers i.e. dobies , toyota and others will do better as re-cons will become less attractive as they get more expensive Which would lock out many more middle-class Kenyans from enjoying what the rich already enjoy. Why would you want that? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 10/26/2012 Posts: 136
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VituVingiSana wrote:mazingira wrote:It will be a blessing to make it 5 years at least there wont be so many cars on our roads and the genuine dealers i.e. dobies , toyota and others will do better as re-cons will become less attractive as they get more expensive Which would lock out many more middle-class Kenyans from enjoying what the rich already enjoy. Why would you want that? Because driving is already not a pleasure in Nairobi or Mombasa , its hell
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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mazingira wrote:VituVingiSana wrote:mazingira wrote:It will be a blessing to make it 5 years at least there wont be so many cars on our roads and the genuine dealers i.e. dobies , toyota and others will do better as re-cons will become less attractive as they get more expensive Which would lock out many more middle-class Kenyans from enjoying what the rich already enjoy. Why would you want that? Because driving is already not a pleasure in Nairobi or Mombasa , its hell given a chance you would also kill people walking on nairobi streets to avoid human jam,very bad heart.we should think of developing not punishing citizens "Don't let the fear of losing be greater than the excitement of winning."
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