June 24, 2016 / 10:42 AM / 4 years ago

Kenyan shilling steady on c.bank assurances, shares extend losses

NAIROBI, June 24 (Reuters) - Kenya's shilling was
steady on Friday, supported by the central bank's assurance it
would step in to calm any jitters about the impact of Britain's
vote to exit the European Union, but some banking stocks and
other shares extended losses.
    Equity Bank and Co-operative Bank were
down more than 2 percent, although Kenya Commercial Bank
 was unchanged. 
    The benchmark NSE20 index of leading shares closed
on Thursday at 3,744 points, its lowest level since mid-2012,
after rising from near that level in January to an April high
around the 4,050-mark.
    Investors have been booking profits on stocks and attracted
by better returns from government securities, traders said. They
said there was no sign yet that uncertainty about the global
impact of Britain's vote was hurting the share market.
    By 1012 GMT, the shilling was quoted at 101.10/30, little
changed from Thursday's close of 101.10/40. Traders said the
central bank's assurance that it would intervene if needed had
helped keep the shilling steady. 
    "Customers have gone quiet considering the comfort they are
getting. It is all about the central bank now," said one trader.
    Finance Minister Henry Rotich said Kenya had enough foreign
exchange reserves to deal with any impact from the British vote.
Reserves now stand at about five months import cover, higher
than the four months the country usually holds. 
               ...........................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-25 Share Index
         .................................NSE All Share Index
             ...........................FT NSE Kenya 15 Index
             .......................... FT NSE Kenya 25 Index
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 (Writing by Edmund Blair; Editing by George Obulutsa)
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