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Ksh at its weakest since it floated in 1994
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Mainat
#191 Posted : Tuesday, September 20, 2011 12:44:24 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Repatriations by hedge funds: One of the drivers of the current fx situation which is also related to the NSE long bear is fact that the ongoing EU crisis is forcing western repatriations.
Most Western hedge funds and investment banks have a an edgy fund which invests in frontier markets. However, this EU crisis has made investors nervous and many are asking for their funds back. This is ofcourse impacting Ksh as well as the NSE.
Sehemu ndio nyumba
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'user'
#192 Posted : Tuesday, September 20, 2011 12:57:03 PM
Rank: Veteran

Joined: 12/3/2010
Posts: 1,141
Location: Londokwe
Being a net importer , 100 is very bad for us .Only those in the export business may be laughing.
Cost of fuel , vehicles machinery, hence food ,will continue to go up.And as God is angry , rain has failed .My last weekend visit to Londokwe made me wonder how people continue to survive there.

Public debt and debt financing costs will also increase.
2012 is here.Kenya is Ours.Be Part of The Peace Keeping Mission To Protect Our Motherland.Say No To Violence and Tribal Hatred .If you can read this,wewe ni mtu amesoma, usifikirie kama mtu hajaenda shule .Ni Hayo Tu
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Mblue
#193 Posted : Tuesday, September 20, 2011 4:33:31 PM
Rank: Member

Joined: 8/3/2011
Posts: 197
hisah wrote:
USDKES - tests 96... I will hold on to the T-Bills until the 91 day rates go to 18%.

http://www.forexpros.com/currencies/usd-kes

Staying short KES until 100 is busted...


It has already hit 96.
"..one is only poor only if they choose to be.."-Dolly Partron
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hisah
#194 Posted : Tuesday, September 20, 2011 6:49:52 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
@Mblue - Whoa! I was off forex for a while... Just seen 96 was taken out and now its positioned at 96.25. And I was expecting by this Friday or next Friday for 96 to be broken. Sad Sad

The T-Bill auction this Thursday and going forward will not be a funny place for CBK and I expect them to keep hiking the CBR for a while. Lending rates are bound to hit 20% at some point and defaults on mostly unsecured loans will be in plenty... Q4 2011 and full yr bank results will show this NPL spike. So buying bank stocks now is not advisable...

http://www.forexpros.com/currencies/usd-kes
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mainat
#195 Posted : Tuesday, September 20, 2011 7:24:56 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Dangerous times. CBK has apparently breached the IMF-imposed 4 month fx limit. Please note, IMF will only open its facility if CBK maintains this condition. This means it might not be able to intervene in the market by throwing dollars in. Are we back to increasing the discount window again?
Sehemu ndio nyumba
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QW25081985
#196 Posted : Tuesday, September 20, 2011 7:46:09 PM
Rank: User

Joined: 8/29/2011
Posts: 1,045
Location: Mtaani
[quote=hisah]@Mblue - Whoa! I was off forex for a while... Just seen 96 was taken out and now its positioned at 96.25. And I was expecting by this Friday or next Friday for 96 to be broken. Sad Sad

The T-Bill auction this Thursday and going forward will not be a funny place for CBK and I expect them to keep hiking the CBR for a while. Lending rates are bound to hit 20% at some point and defaults on mostly unsecured loans will be in plenty... Q4 2011 and full yr bank results will show this NPL spike. So buying bank stocks now is not advisable...

http://www.forexpros.com/currencies/usd-kes[/quote]

so equity at 13.00 and co-op at 9 bob shld be in order . WoW
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kizee1
#197 Posted : Wednesday, September 21, 2011 11:37:38 AM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
97 paid
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Mainat
#198 Posted : Wednesday, September 21, 2011 11:41:12 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Kizee1-is it true that CBK is selling Ksh?
Sehemu ndio nyumba
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hisah
#199 Posted : Wednesday, September 21, 2011 11:42:34 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
http://www.forexpros.com/currencies/usd-kes - Crap 97 and counting...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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kizee1
#200 Posted : Wednesday, September 21, 2011 11:43:46 AM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
Mainat wrote:
Kizee1-is it true that CBK is selling Ksh?

techinacally

theyr doin a reverse repo at 400bpts below the overnite market! surely wth is wrong with these guys?
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