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Finance

Peaceful elections and smooth political transition boosts the Kenya Shilling

By TF News Reporter

The Kenya Shilling strengthened against most major international currencies last week reflecting improved investors’ confidence following the peaceful resolution of the election petition by the Supreme Court. Supreme Court Judges upheld Uhuru Kenyatta's electionsSupreme Court Judges upheld Uhuru Kenyatta's elections

The Shilling appreciated by 0.97 per cent, 1.19 per cent and 1.30 per cent against the US Dollar, Sterling Pound and Euro, respectively and depreciated by 0.09 per cent against the Japanese Yen to trade at an average of Sh84.94 per US$, Sh28.64 per Sterling Pound, Sh109.09 per Euro and Sh90.74 per 100 Japanese Yen.

Kenya shilling expected to strengthen after Supreme Court ruling on presidential petition

By Ben Kinyanjui

The Shilling closed the Easter week stable against all other major currencies despite uncertainties created by the election petition case that was pending at the Supreme Court.The Suprume Court dismissed election petition by Prime Minister Raila OdingaThe Suprume Court dismissed election petition by Prime Minister Raila Odinga

 

The Central Bank of Kenya (CBK) said the exchange rate remained relatively stable against major international currencies though the currency might strengthen after the court case was determined.

The Kenya shilling hold firm against US$ as elections despite petition at the Supreme Court

By Ben Kinyanjui

The Kenya Shilling has continued to hold firm against the world majors despite uncertainties caused by election dispute that has gone to the Supreme Court for arbitration.

The Supreme Court headed by Dr Willy Mutunga expected to rule on petition by SaturdayThe Supreme Court headed by Dr Willy Mutunga expected to rule on petition by Saturday

Prime Minister Raila Odinga has gone to court to challenge the election of Uhuru Kenyatta as president-elect during the March 4 poll

Banking sector remains robust as Central Bank of Kenya retain lending rate at 9.50 per cent

By Ben Kinyanjui

The money market was liquid last week despite uncertainties created by the just concluded general elections that were peaceful despite technical challenges experienced by the Independen Electoral and Boundaries Commission.Central Bank of Kenya says money market not affected by elections feverCentral Bank of Kenya says money market not affected by elections fever

The Central Bank’s open market operations withdrew Sh29.3 billion through sales of repo securities and Sh31.5 billion in term auction deposits against maturities of repo securities and term auction deposits held by commercial banks of Sh25.4 billion and Sh10.1 billion, respectively.

Kenya shilling remains stable despite jitters from western capitals over Uhuru Kenyatta win

By TF News Reporter

The Kenya Shilling exchange rate appreciated against all major international currencies last week despite jitters from western capitals over Uhuru Kenyatta presidential win.

Prime Minister Raila Odinga lost narrowly to Uhuru KenyattaPrime Minister Raila Odinga lost narrowly to Uhuru Kenyatta

During the week, the Shilling appreciated by 1.07 per cent against the US Dollar to trade at an average of Sh86.23, 1.51 per cent against the Pound Sterling to trade at an average of Sh130.3, 1.76 per cent against the Euro to trade at an average of Sh112.50 and 1.47 against the Japanese Yen to trade at an average of Sh92.60.

Remittances by Kenyans living abroad declined in January to Sh10.3 billion compared to 1Sh10.5 billion in December

 

By TF News Reporter

 

Remittances by Kenyans living abroad declined to US$103 million (sh10.3 billion) compared to US$105.7 I(Sh10.5 billion) million recorded in December last year.CBK says inflows are strong despite decline in January 2013CBK says inflows are strong despite decline in January 2013

However, the Central Bank of Kenya (CBK) says remittances inflow was resilient in 2012, recording an increase of 31.4 per cent compared with 38.8 per cent in 2011.

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