The
shilling traded flat against the U.S. dollar in a quiet market as demand was
well matched by supply in the interbank.
“Today
a similar trend is expected with low to moderate level of volatility,” Standard
Chartered Bank says in today’s daily market report.
The
shilling seems to comfortably trading at around 1,600/- a greenback.
The
shilling stability is contributing on lowering interest rates. The interbank
cash market has recorded down trend on the overnight and one week rates.
The
overnight rates decreased to 1 per cent and 10 per cent levels. Repurchase
agreement (Repo) market was very active for couple of weeks past, whereby its window
is open every day for any interested party to venture.
The
repo rates have shown significant drop at 3 per cent and 5 per cent for one
week and two weeks respectively.
In
yester-market 25bn/- were mopped through Repo for one and two weeks
respectively.
Source: tzexchange.blogspot.com
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