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USD/KES $ at 95
Rank: New-farer Joined: 5/20/2010 Posts: 69
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hisah wrote:snipermnoma wrote:CBK has the dollar at mean of 103.7712. So we are still seeing a slide. Looks like a rate hike will be on the cards next month. No CB is larger than the market. The governor has realized this as per his last statement. If they hike rates with the current global turmoil, NSE will crash land and that would still not save KES.
For now it's 'sit on your hands' time as the saying goes in the trading pit. Let the carnage be. Carnage indeed first there is this, Bank CEOs to meet governor as shilling hits 106 to dollarAnd then there is this Panic as traders quote prices in US dollarsThings are getting very very thick
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Reduce GoK spending, at least make some public effort to show you're doing something. That would support the shilling. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 7/6/2010 Posts: 242
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The negative growth in the hotel and tourism sector is hitting us hard , the government needs to go an extra mile and create a secure atmosphere for the tourists . Secondly , the coffee and tea prices are quite low in the global market at this moment and this indeed has a negative effect on the dollar inflows into Our country. Lastly , am just wondering whether Our sovereign debt is also a contributing factor since the govt has to offset payments on a monthly or quarterly basis?
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Rank: Elder Joined: 6/8/2013 Posts: 2,517
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Quote:So just like Zimbabwe Kenyan traders have swiftly changed into billing / quoting prices in USD  "😖😡KQ makes money for everyone except the shareholder 😏😏 " overheard in Wazua
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Rank: Member Joined: 2/27/2014 Posts: 454 Location: Republic of Enchantment.
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Siringi wrote:Quote:So just like Zimbabwe Kenyan traders have swiftly changed into billing / quoting prices in USD A sign indicating that things are getting messy day by day. Divers - can you laugh in scuba gear, or will you drown? I was wondering. - James May.
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Rank: Member Joined: 8/19/2015 Posts: 125
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if you are a speculator holding USD! be warned the trend might head North soon..... http://www.bloomberg.com/quote/USDKES:CUR
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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sl8r wrote:hisah wrote:snipermnoma wrote:CBK has the dollar at mean of 103.7712. So we are still seeing a slide. Looks like a rate hike will be on the cards next month. No CB is larger than the market. The governor has realized this as per his last statement. If they hike rates with the current global turmoil, NSE will crash land and that would still not save KES.
For now it's 'sit on your hands' time as the saying goes in the trading pit. Let the carnage be. Carnage indeed first there is this, Bank CEOs to meet governor as shilling hits 106 to dollarAnd then there is this Panic as traders quote prices in US dollarsThings are getting very very thick As per my last Elliot Wave analysis, I expect the KES to start strengthening against the USD. The line in the sand is 106.80. As long as that is not broken then you should stop your worries. Will update post 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: 10/11/2006 Posts: 2,304
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mnandii wrote:sl8r wrote:hisah wrote:snipermnoma wrote:CBK has the dollar at mean of 103.7712. So we are still seeing a slide. Looks like a rate hike will be on the cards next month. No CB is larger than the market. The governor has realized this as per his last statement. If they hike rates with the current global turmoil, NSE will crash land and that would still not save KES.
For now it's 'sit on your hands' time as the saying goes in the trading pit. Let the carnage be. Carnage indeed first there is this, Bank CEOs to meet governor as shilling hits 106 to dollarAnd then there is this Panic as traders quote prices in US dollarsThings are getting very very thick As per my last Elliot Wave analysis, I expect the KES to start strengthening against the USD. The line in the sand is 106.80. As long as that is not broken then you should stop your worries. Will update post soon. In the meantime, my next target for USDKES is the 100 level 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: Member Joined: 3/23/2011 Posts: 304
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Rumours doing the rounds are that commercial banks unanimously agreed to only buy bonds at 18% and CBK agreed....can anyone confirm this? You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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http://www.businessdaily.../-/ji2d3dz/-/index.html
Liquidity tightening on the cards to tame growth in private sector credit to be within CBK targets Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 10/11/2006 Posts: 2,304
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Quote:Central Bank must stop use of dollars in the economy for local transactions linkA person who calls himself an investment analyst can suggest such crap?  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: Chief Joined: 1/13/2011 Posts: 5,964
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mnandii wrote:Quote:Central Bank must stop use of dollars in the economy for local transactions linkA person who calls himself an investment analyst can suggest such crap? What I describe as the snowballing of storm in a tea cup reporting. The reporter wrote of 2 companies who in my understanding received those instructions from their offshore HQs. Then went ahead with a horror headline. Secondly, banks have taken up USD senior debt to facilitate their clients involved in Exim business which is good for FX risk management. However, woe unto those who in turn do sell in KES. Lastly, this USD gyrations could be over by next week. Let's see with the Fed.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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What does the guy consider a local transaction. Even matatu fare is not a local transaction. Why I say so, because they depend of fuel cost , which depends on the dollar.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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streetwise wrote:What does the guy consider a local transaction. Even matatu fare is not a local transaction. Why I say so, because they depend of fuel cost , which depends on the dollar. Solution? Import substitution. Lakini, Wakenya wanapenda vitu za ku? Za Kucome...
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Cde Monomotapa wrote:streetwise wrote:What does the guy consider a local transaction. Even matatu fare is not a local transaction. Why I say so, because they depend of fuel cost , which depends on the dollar. Solution? Import substitution. Lakini, Wakenya wanapenda vitu za ku? Za Kucome... Naturalized kweli  Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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For the FOREX gurus on Wazua, where can one get the best rates when selling US dollars for KES?
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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iris wrote:For the FOREX gurus on Wazua, where can one get the best rates when selling US dollars for KES? Eastleigh! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 9/11/2014 Posts: 228 Location: Nairobi
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Where in Eastleigh? Is it legal?
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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The problem with economists and traders, they can be far moodier than the markets. Usd/Kes around 103.15. Oh ye resident analysts, is it going up or down by Dec?Quote:An interesting Trade would be to buy 1 Year T-Bills which will print a
20% handle this week and look to finance the Position versus Dollars.
This is of course called the ''Carry'' Trade. The Foreign Exchange
Rate is key and was last trading at 103.43 and the Trade looks
compelling in my opinion. The Central Bank has established his
credentials in very short order and that establishment of his
inflation-busting credentials [by the way there isn't any] will I
believe also allow him to take his Foot off the interest rate
Accelerator in due course.
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Usd at 100 at year end, unless CBK borrows externally, then 105 to 110. Business opportunities are like buses,there's always another one coming
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