Weekly Statistical Bulletin

Transcription

1 1 / Central Bank of Kenya Statistical Bulletin Weekly Statistical Bulletin Key Monetary and Financial Indicators January May 11, , 2018 Interbank Market Activity in the interbank market increased during the week ending May 9, The volumes traded increased to an average of KSh 15.5 billion during the week compared to KSh 14.8 billion in the previous week, partly reflecting tighter market conditions as a result of year end tax remittances by banks. The daily volumes traded ranged from Ksh billion to Ksh billion compared to a range of Ksh billion to KSh billion the previous week. However, the number of deals in the interbank market was largely unchanged at 33 compared with an average of 34 in the week ending May 2, Following the increased activity, the weighted average interbank rate increased to an average of 4.96 percent from 4.84 percent in the previous week (Table 1). Exchange Rate The Kenya Shilling remained stable against major international currencies during the week ending May 10, It strengthened against the Euro and the Pound Sterling but weakened marginally against the US Dollar and the Japanese Yen. It was also relatively stable against the EAC currencies (Table 2). Equity Market Equity share prices recorded improved performance in the week ending May 10, 2018, as reflected in NASI, the index covering all quoted shares at the NSE. Trading activity, as indicated by the equity turnover, increased by percent due to a percent increase in the number of shares traded and increased prices during the week under review. Shareholders wealth, measured by market capitalization, therefore, increased by 1.88 percent to KSh 2, billion (Table 3). The positive performance was driven by strong rally of KCB bank, Equity bank, Co-operative bank and Kenol Kobil counters, supported by favourable company performances in Bond Market and s Turnover in the bond market increased by percent during the week under review. This may be due to investors sale of the old bonds to participate in the new 15-year bond currently on sale in the primary market with a competitive coupon rate and lower withholding tax. Bonds in the primary market are considered cheaper to investors. In the international market, the yields on Kenya s 5- and 10-year s increased during the week ending April 26, 2018, but declined marginally for the 30-year (Table 3). Government Securities Government securities market registered very good performance in the week ending May 11, 2018 with over subscriptions registered for all tenors of Treasury Bills on offer. The Treasury bills auction of May 10, 2018 received bids totaling KSh billion against an advertised amount of KSh 24.0 billion, giving a performance rate of percent. This was an improvement from the previous week s equally good performance of percent. The investors continued to show preference for the 364-day Treasury bill over the 182-day and 91-day Treasury bills. All the interest rates on the three Treasury bills declined during the week.

2 2 / Central Bank of Kenya Statistical Bulletin Table 1: Interbank Deals, Volumes and Interest Rates Date Number of Deals Value (KSh M) Average Interbank Rate (%) Date Number of Deals Value (KSh M) Average Interbank Rate (%) 26-Apr , Apr , Apr , May , April 26 - May 2, , May , May , May , May , May , May 3-9, , Table 2: Kenya Shilling Exchange Rates (Indicative Mean Rates) USD Sterling Euro 100 USHS* TSHS* RWF* BIF* Pound Japanese Yen 27-Apr Apr May May April 27-3 May May May May May May May * Units of currency per Kenya Shilling Source :Central Bank of Kenya

3 3 / Central Bank of Kenya Statistical Bulletin Table 3: Key Weekly Market Indicators INDICATOR NASI 100= 2008 NSE 25 Share Index NSE 20 Share Index 100= 1996 Number of Deals (Shares) Total Shares Traded (Million) Equity Turnover (KSh Million) Market Capitalization (KSh Billion) Bonds Turnover (KSh Million) 5-Year (%) 10-Year (%) Year (%) Year (%) 27-Apr , , , , Apr , , , , May-18 PUBLIC HOLIDAY 02-May , , , , , May , , , , , , Apr-3 May, , , , , May , , , , , , May , , , , , May , , , , , May , , , , , , May , , , , , May-10 May, , , , , Weekly Change (%) * 0.23* 0.04* -0.02* * Percentage points, NSE and Reuters Table 4: Performance of Treasury Bonds Date of Auction 01-Mar Mar Mar Apr-18 Tenor Amount offered (Ksh M) FXD1/2010/15 FXD2/2013/15 FXD1/2018/5 FXD1/2018/20 FXD 1/2018/5 FXD 1/2018/20 REOPEN FXD 1/2008/15 27, , , ,000.0 REOPEN FXD 1/2018/20 Bids received (Ksh M) , , , , , , ,904.2 Amount Accepted (Ksh M) , , , , , , ,786.1 Maturities (Ksh M) Average interest Rate (%)

4 4 / Central Bank of Kenya Statistical Bulletin Table 5: Performance of Treasury Bills 91-Day Treasury Bills Date of Auction 19-Apr Apr May May-18 Amount offered (Ksh M) 4, , , , Bids received (Ksh M) 5, , , , Amount Accepted (Ksh M) 2, , , , Maturities (Ksh M) 1, , , , Average interest Rate (%)- 91 Days Day Treasury Bills Date of Auction 19-Apr Apr May May-18 Amount offered (Ksh M) 10, , , , Bids received (Ksh M) 17, , , , Amount Accepted (Ksh M) 15, , , , Maturities (Ksh M) 4, , , , Average interest Rate (%)- 182 days Day Treasury Bills Date of Auction 19-Apr Apr May May-18 Amount offered (Ksh M) 10, , , , Bids received (Ksh M) 15, , , , Amount Accepted (Ksh M) 13, , , , Maturities (Ksh M) 21, , , , Average interest Rate (%)- 364 days Chart 1: Kenya Government Securities Curve (%) Years to Maturity 3M 6M Mar Feb Apr-18 and NSE

5 5 / Central Bank of Kenya Statistical Bulletin Table 6: Government Domestic Debt (Ksh Billion) 23-Mar Mar Apr Apr Apr Apr May Treasury Bills (Excluding Repos) (As % of total securities) Treasury Bonds 1, , , , , , , (As % of total securities) Total Securities (1+2) 2, , , , , , , Overdraft at Central Bank Other Domestic debt* Gross Domestic Debt (3+4+5) 2, , , , , , , * Other domestic debt includes clearing items in transit, advances from commercial banks, Pre-1997 Government Overdraft and Tax Reserve Certificates. Table 7: Composition of Government Domestic Debt by Instrument (Percent) 23-Mar Mar Apr Apr Apr Apr May-18 Treasury bills (Excluding Repos) Treasury bonds CBK Overdraft to Govt Other domestic debt TOTAL Table 8: Composition of Government Domestic Debt by Holder (In Percent) 23-Mar Mar Apr Apr Apr Apr May-18 Banking Institutions Insurance Companies Parastatals Pension funds Other investors Total

6 6 / Central Bank of Kenya Statistical Bulletin Table 9: Indicators of Total Government Debt Mar-17 Jun-17 Sep-17 Dec-17 Jan-18 Feb-18 Mar-18 Domestic debt (Kshs Bn) 1, , , , , , , Public & Publicly Guaranteed External debt (US $ Bn) Public & Publicly Guaranteed 2, , , , , , , External debt (Ksh Bn) Total public debt (Ksh Bn) 4, , , , , , , Source: National Treasury and Central Bank of Kenya Table 10: Official Foreign Reserves US$ Million (Usable) 1. CBK Usable Foreign Exchange Reserves (USD Million)* 2. CBK Usable Foreign Exchange Reserves (Months of Import Cover)** *Excludes Encumbered Reserves **Based on 36 months average of imports of goods and non-factor services. 05-Apr Apr Apr Apr May May-18 8,816 8,833 9,495 9,509 9,142 9,