The Shilling Closes the Week on a Losing End

By Juma Fred / October 7, 2017


The Kenyan shilling closed the week on a losing end as it continued to weaken against the US Dollar, the Sterling Pound, and the Euro.

The shilling weakened against the US Dollar by 0.71 percent on a year-to-date basis. The shillings also weakened against the Sterling Pound by 8.08 percent while going further down against the Euro by 13.03 percent.

On Friday, the market turnover at the bourse dropped 9.8 percent to USD 2.22 million or an equivalent of 229.5 million shillings from Thursday’s trading.

The NSE 20 dropped 0.25 percent to close at 3,693.22 while NASI declined 0.16 percent to close at 160.71. Foreign investors, on the other hand, assumed an even-handed position by accounting for 65.8 percent of total market purchases and 64.3 percent of total market purchases.

On the East African Community Markets, in Uganda, the USE ALSI dropped 0.75 percent to close at 1,696.65 while USE LCI gained 0.05 percent to close at 375.81 while in Rwanda, the RSE RSI and RASI gained 0.44 percent and 0.06 percent to close at 122.97 and 131.72 respectively.

About 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: [email protected]

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