Shilling loses ground against US dollar

Tuesday’s morning trading session saw the shilling losing ground against the dollar to trade at 1597/1602 levels before it rebounded later to trade at 1592/1598 levels partly helped by continued liquidity tightness.

In the money markets, liquidity squeeze continues with overnight rates trading range bound, while volumes have picked to 29.3bn/- yesterday’s session as investor’s eyes the Wednesday’s 100bn/-T-bills auction.
Source: NMB e-market report
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