PRIME Shilling plunges to 13-month low against euro, pound A depreciating shilling against the pound and the euro means increased earnings for horticultural exports to EU and UK.
PRIME Stanbic Bank to join China’s payment system on investor demand The bank says the CIPS will help boost its chances of capturing opportunities from the growing trade and investment ties between China and Africa.
PRIME Kenyan firms risk forex losses on new Tanzania currency rule All prices for goods and services in Tanzania will be quoted exclusively in Tanzanian shillings (TZSh) to strengthen its use in domestic transactions.
PRIME Forex reserves hit record Sh1.3trn after investors snub new Eurobond The CBK reserves have previously come under pressure, particularly in 2023, as the apex bank was forced to sell dollars from the cover to maintain exchange rate volatility.
PRIME Kenya’s mobile money agent transactions hit Sh8.7trn CBK data shows the agents recorded a Sh744 billion or a 9.4 percent growth from the Sh7.95 trillion in 2023.
PRIME Shilling rallies to six-month high on CBK intervention CBK has been in the market selling dollars to ease importers demand for the greenback.
PRIME Shilling weakens to a two-and-a-half-month low against the dollar Pressure came from increased demand for the US currency from consumer goods importers.
PRIME Foreign currency deposits hit 17-month low The drop in the mostly US dollar deposits came during a period when the local shilling remained largely stable.
PRIME Taxable bond prices rally on falling interest rates The premium placed on tax-free infrastructure bonds has meanwhile risen.
PRIME Interbank lending rates fall to 14-month low The lower interbank rate is indicative of falling borrowing costs among commercial banks on the short-term credit facilities.
PRIME KCB Group targets East Africa traders with more regional currencies It will add the Uganda shilling, Tanzania shilling, Rwandan franc and Ethiopian birr to the multicurrency card.
PRIME Australia beats Germany, Saudi Arabia in remittances Diaspora remittances from Germany, which grew at the fastest pace of 35.71 percent in 2023, slowed last year, according to data from CBKI based on flows through formal channels.
PRIME Diaspora remittances surpass CBK forecast to hit record Sh640bn Kenyans living and working abroad sent home daily remittances of Sh1.76 billion.
PRIME Why cryptocurrencies are getting attention in Kenya The International Monetary Fund (IMF) has urged Kenya to view them not as currencies, but as assets.
PRIME Currency in circulation up 6pc as Kenyans liquidate savings This rise is nearly double the 3.5 percent growth recorded in the 12 months to June 2023.
Forex reserves projected to grow by Sh288bn on IMF, remittance inflows As per the annual growth projection made by the CBK last week, the reserves are expected to settle at $8.84 billion (Sh1.14 trillion) by the end of the year.
PRIME Shilling feels heat of Trump re-election Trump’s return to office has pushed investors back to the US dollar in anticipation of dollar-friendly policies, including the imposition of import tariffs.
PRIME Kenyans outside US, Europe lift October remittances to record Sh56bn Data from the CBK shows the diaspora remittances rose from $418.5 million (Sh53.7 billion) recorded in the previous month.
PRIME Cash sent home by Kenyans in South Africa up despite work permit woes Official data shows the inflows from South Africa more than doubled in the first nine months of 2024 compared with a year earlier but remained more than nine times lower than four years ago.
PRIME Diaspora remittances grow by Sh69bn in nine months Fresh data from CBK indicates that Kenyans in the diaspora sent home $418.5 million in September, adding to the cumulative $3.22 billion remitted during the eight-month period to August this year.
PRIME Shilling holds steady despite globally weakening dollar CBK data shows the shilling opened the month trading at an average of Sh129.19 to the dollar, and closed out the period at the same rate.
PRIME Strong shilling, jet fuel demand lift Rubis sales 9pc in first half of year Rubis says that increased demand for aviation fuel helped ease the impact of the dip in consumption of diesel and petrol in the first half of the year.
PRIME Kenyan banks see forex losses from subsidiaries Subsidiaries prepare financial statements in their local currency, but it is translated into shillings when they are consolidated into the group.
PRIME Fitch downgrades KCB, NCBA and I&M on State debt risk It has downgraded the ratings of the banks and their bank holding firms given their high sovereign exposure.
MPs summon Thugge over ‘secret’ currency printing contract He told the media that the printing was being done by “one of the best firms” in Germany.
