Reuters: US Dollar Report: Kenyan shilling supported by foreign buying before earnings season

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Kenyan shilling supported by foreign buying before earnings season May 9th 2013, 09:01 Tweet Share this Email Print Related Topics Stocks » Currencies » Bonds News » Bonds » Markets » Africa » Thu May 9, 2013 5:01am EDT NAIROBI, May 9 (Reuters) - The Kenyan shilling was steady on Thursday, supported by foreign investors buying local equity and debt securities on expectations of a robust corporate earnings season this month, dealers said. Most listed companies are scheduled to announce first quarter financial results in May. By 0739 GMT, commercial banks were quoting the shilling at 83.60/80 per dollar, barely changed from Wednesday's close of 83.70/80. "There is a lot of foreign interest on the large cap stocks, especially banks, since they expect a good reporting season," said Dickson Magecha, a foreign exchange dealer at Standard Chartered Bank. "We've have seen good flows into the equities and debt market since yesterday and we expect these flows to continue in coming sessions," he said. Kenya's main share index has rallied 18 percent this year, buoyed by a peaceful election, a stable currency and low inflation rate. ...........................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: Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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