Kenyan Shilling Still on the Receiving End From Global Giants

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The Kenyan shilling maintained its weakening trend against major currencies; US Dollar, Sterling Pound, and the Euro on Tuesday.

The shilling weakened against the US Dollar by 0.67 percent on a year-to-date basis. The same trend was replicated for the Sterling Pound where the shilling shed off 6.43 percent while against the Euro, the shilling went down by 5.40 percent.

At the Nairobi Security Exchange, the market turnover reduced by 39.82 percent to USD 4.6 million similar to 472.2 million shillings from Monday’s trading.

The NSE 20 and NASI lost 0.40 percent and 0.63 percent to close at 3,141.69 and 135.96 respectively as foreign investors assumed a net buying position accounting for 86.2 percent of total market purchases and 84.2 percent of total market sales.

On the East African Community Markets, we kick off in Uganda where the USE ALSI went down 1.18 percent to close at 1,562.48 while the USE LCI remained constant to close at 375.06 and in Rwanda, the RSI and RASI  held constant to close at 122.35 and 127.60 respectively.

 

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Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: info@sokodirectory.com