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UPDATE 1-Kenyan shilling weakens, stocks in 4-day winning streak
February 12, 2015 / 2:47 PM / 3 years ago

UPDATE 1-Kenyan shilling weakens, stocks in 4-day winning streak

* Shilling seen supported by bond sale
    * East African Breweries continues rally

 (Adds shilling closing level, stocks, bonds)
    NAIROBI, Feb 12 (Reuters) - Kenya's shilling eased
slightly on Thursday due to increased local currency liquidity,
while the stock exchange's main share index rose for the fourth
consecutive day.
    The shilling closed at 91.50/60 to the dollar, compared with
Wednesday's close of 91.45/55 after liquidity improved, making
it cheaper to hold dollars.
    John Muli, a trader at African Banking Corporation, said the
government was paying salaries and disbursing cash to regional
governments, which are partly funded from the national budget.
    The shilling was however expected to get more support into
early next week due to dollar inflows by foreign investors
buying Treasury bonds, traders said.
    The central bank will auction a two-year and a 10-year
Treasury bonds worth to 25 billion shillings ($273 million) on
Feb. 18. 
    "We've already seen the deepening flows, at least from the
offshores. They have already started positioning themselves in
anticipation of the auction," said a trader at a major
commercial bank in Kenya.     
    The shilling has lost 1 percent to the dollar so far this
year, after losing ground steadily over the past year.
    On the Nairobi Securities Exchange, the main NSE-20 Share
Index inched up by 3.85 points to close at 5,333.86
points.
    East African Breweries closed higher for a fourth
day, up 0.6 percent at 326 shillings a share. 
    The stocks has been rallying all week on anticipation of
reporting strong first half earnings. The brewer's results were
released after the market had closed, showing a 12 percent rise
in pretax profit. 
    On the secondary market, government bonds valued at 915.1
million Kenyan shillings ($10 million) were traded, compared
with Wednesday's 122.6 million shillings.
               ...........................Shilling spot rates 
                  .....................Shilling forward rates 
                           .......................Cross rates 
         ..................................Local contributors 
           .......................Central Bank of Kenya Index 
          .....................Kenyan Bonds contributor pages 
                          ...............Treasury bill yields 
        ..................Central bank open market operations 
        .........................Horizontal repo transactions 
         ,       ................Daily interbank lending rate 
              .............................Kenya Bond pricing 
             ..................Real time Africa economic data 
 <ECI & AFR> ...........................African economic news
          .................................NSE-20 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
  SPEED GUIDES:
                                    
            
  ($1 = 91.5600 Kenyan shillings)

 (Reporting by George Obulutsa and Edith Honan; Editing by James
Macharia)

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