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  • Kenya smallholder tea farmers earn Sh63.6 billion from tea exports

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Finance

Earnings from tea exports boost shilling that has been under pressure from imports

By TF News Reporter

Earnings from the tea subsector helped the shilling recoup some of the losses it had incurred early this month when demand from the importers and corporates exerted pressure on the exchange rate.Tea exports provides short-term inflows to the economyTea exports provides short-term inflows to the economy

Last week, the shilling appreciated marginally against the US$ to trade at an average of Sh85.06 per USD compared to Sh85.15 per US$ in the week ending June 6.

Government domestic debt hit Sh1.1 trillion as financial year 2012/2013 closes

By Ben Kinyanjui

Gross Government domestic debt has increased to Sh1.1 trillion up from Sh858.8 reported in June last year.CBK governor Prof Njuguna Ndung'u says shilling also under pressureCBK governor Prof Njuguna Ndung'u says shilling also under pressure

The central Bank of Kenya says the increase follows increases of Sh129.2 billion, Sh61.6 billion, Sh26.9 billion and Sh3.5 billion in the stocks of Treasury bills, Treasury bonds, Government overdraft at the Central Bank and other domestic debt, respectively.

The Kenya shilling come under pressure but remains stable

By Ben Kinyanjui

The Kenya Shilling was under pressure last week depreciating marginally against major international currencies to close at Sh84.79 to the US$ and Sh109.53 to the euro.Demand from importers has put shilling under pressureDemand from importers has put shilling under pressure

The Central Bank of Kenya (CBK) attributed this to increased demand for dollars from importers to meet their end of month commitments and payment of dividends by corporates.

Interest rates on government paper decline for the third week

 

By TF News Reporter

Average interest rates on Treasury bills continued on a downward trend for the third consecutive week in a row.Commerical banks have invested heavily in government paperCommerical banks have invested heavily in government paper

This has raised hopes that interest rates charged by commercial banks might drop as their investment options dwindle. Commercial banks are the main players in the securities market.

Kenya’s domestic debt exceed Sh1 billion mark amidst clamour for higher pay by Mps

By TF News Reporter

Kenya’s domestic debt has increased to Sh1.07 trillion from Sh858.8 billion reported in June last year.CBK Governor Prof Njuguna Ndung'u advises government on money mattersCBK Governor Prof Njuguna Ndung'u advises government on money matters

According to the Central Bank of Kenya (CBK), gross government domestic debt increased by Sh212.5 billion representing 24.7 per cent by May 10 from Sh858.8 billion at the end of June 2012.

Interest rates remain high despite lower lending by the Central Bank of Kenya

 

By Ben Kinyanjui

 

Most commercial banks are yet to lower their base lending rates a week after the Central Bank of Kenya (CBK) lowered its lending rate by 100 basis points to 8.50 per cent from 9.50 per cent.Commercial banks have kept interest rates highCommercial banks have kept interest rates high

Though the Monetary Policy Committee (MPC) has over the last four months lowered the Central Bank Rate (CBR) in an attempt to drive lending rates down and spur economic growth, most commercials banks have maintained high lending rates that have discouraged potential borrowers.

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