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Ksh at its weakest since it floated in 1994
Rank: Member Joined: 3/20/2009 Posts: 348
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[quote=hisah]And more circus. KE citizens should be mad. Cant someone just walk into court and file a request to force cbk to make this info public. If the US Fed was forced to spill the 2008 bailout info against enormous odds, then the same should work fine with a new judiciary ready to prove a 'point'. Or am I in lala land...  http://www.nation.co.ke/...0/-/ve315e/-/index.html[/quote] CBK will not make the names public because the banks can sue the hell out of GOK.CBK knows very well the banks are not the cause of the shilling slide,they just took advantage of the situation when a profitable trade presented itself.The people kenyans should be blaming are the guyz responsible for fiscal policy(the same MPs trying to shift blame because its an election year)
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@Itz - The idea is to get the info published that bank a,b & c were on the currency run trade (not illegal btw). Those banks get pissed, sue gok in counter action, treasury gets exposed. That way the skeletons become clearly visible. That should make for an interesting class action case and a good fight rather than this boring PSC comedy  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Kenya shilling hits 11-month high against dollar http://www.businessdaily...-/14ewgeqz/-/index.html
Eish! Is that the fastest ever reversal or what! 107 seems eons ago. Sub 80? GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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I would be accumulating USD at this level i.e. at 80 & below. Then wait till Q4 2012 and sell some above 90s. Impossible many will say $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Stronger KES will mitigate the effects of the randy Brent in the short run.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cde Monomotapa wrote:Stronger KES will mitigate the effects of the randy Brent in the short run. Manipulated KES not strong KES. There is nothing fundamental to support the artificial strength. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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hisah wrote:Cde Monomotapa wrote:Stronger KES will mitigate the effects of the randy Brent in the short run. Manipulated KES not strong KES. There is nothing fundamental to support the artificial strength. Whatever man. It is what it is now. A stronger KES.
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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hisah, you are very negative about this shilling man why? yes i get the point of change of inflation formulae but we have to agree that at beyond 87 mark last yr, the shilling rose mainly due to speculation and panic buying LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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at 85 last yr, the cbk was buying dollar increasing its demand now it is not it should at least be a good run, @hisah, for now. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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There's reality and there's negativity. The reality is CBK devalued the currency. Let the market price the devaluation. What is wrong with that? No CB has been able to fight the market and won. They just delay the eventual outcome. Negativity - yes, I'm pissed off with CBK murky work. They were to hike rates a long time ago only to do so when the boat had taken enough water. I'm not in KE, but I could see the USD going to 90 back in March 2011. You should be mad at how your purchasing power has been eroded. I want KE to be successful economical model and the envy of Africa and I can't stand bogus treasury gimmicks. What more can anyone else want... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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In otherwords, if @hisah headed an Oil Marketing Co. he would go to KCB kesho and INSIST on buying USD's at 90 instead of 83. Right, right...we get you now.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cde Monomotapa wrote:In otherwords, if @hisah headed an Oil Marketing Co. he would go to KCB kesho and INSIST on buying USD's at 90 instead of 83. Right, right...we get you now. Right. Happy now. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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hisah wrote:Cde Monomotapa wrote:In otherwords, if @hisah headed an Oil Marketing Co. he would go to KCB kesho and INSIST on buying USD's at 90 instead of 83. Right, right...we get you now. Right. Happy now. 
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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This is a currency on steroids, we all know what happens to weight lifters when they stop using them i.e former Gov of Cali.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Hmm...reminds me of a country called China...I figure that after deep reflection of who they are, they arrivied at the right conclusion that they are NET-EXPORTERS and hence DEVALUED the Yuan...and wow! Aren't they a force to reckon with now! Pursuant to that, a NET-IMPORTER like KENYA has every business maintaining a STRONG KES. Pretty straight forward to me.
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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hisah wrote:There's reality and there's negativity. The reality is CBK devalued the currency. Let the market price the devaluation. What is wrong with that? No CB has been able to fight the market and won. They just delay the eventual outcome.
Negativity - yes, I'm pissed off with CBK murky work. They were to hike rates a long time ago only to do so when the boat had taken enough water. I'm not in KE, but I could see the USD going to 90 back in March 2011. You should be mad at how your purchasing power has been eroded.
I want KE to be successful economical model and the envy of Africa and I can't stand bogus treasury gimmicks. What more can anyone else want...  CORRECT Well like you said it is impossible to prop up a currency for too long if the fundamentals do not change. Alot of money has been made by traders by shorting currencies that are artificially propped up then reaping the windfall when the currency gives in, which it must do eventually. That is how Geroge Soros 'broke' the BOE. Don't blame the banks, its silly really. The same way you short overvalued shares is the same way banks short or long currencies depending on their outlook. Its a tough business as well, they take some hits too but nobody reports this.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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At 82s and below, the USD is cheap. I'll be pushing dollars to KE and sell them later in the year above 90s. http://bit.ly/zxqW4T$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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hisah wrote:At 82s and below, the USD is cheap. I'll be pushing dollars to KE and sell them later in the year above 90s. http://bit.ly/zxqW4T . The BD guys are crap. Latest data shows CBK Official Foreign Exchange Reserves increased by USD 150M in the period from 03-Feb-12 to 10-Feb-12. The reserves now stand at $4,025M which is more than the $ 4,002 held on 31-Dec-11. http://www.centralbank.go.ke/do...etin/2012/Feb/100211.pdf
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mwekez@ji wrote:hisah wrote:At 82s and below, the USD is cheap. I'll be pushing dollars to KE and sell them later in the year above 90s. http://bit.ly/zxqW4T . The BD guys are crap. Latest data shows CBK Official Foreign Exchange Reserves increased by USD 150M in the period from 03-Feb-12 to 10-Feb-12. The reserves now stand at $4,025M which is more than the $4,002M held on 31-Dec-11. http://www.centralbank.go.ke/do...etin/2012/Feb/100211.pdf That aside, I also don’t see a strong shilling in the coming days. The market will certainly win over the CBK fx manipulations. A quick question @hisah, aint the 10% capital gain a low target for a duration of 1 year
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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