US Dollar, Sterling Pound and the Euro Pile Pressure on the Shilling

By Juma Fred / October 12, 2017

The Kenyan Shilling

The Kenyan shillings has continued to receive blows from the US Dollar, the Sterling Pound, and the Euro as it continues to head South for the third day consecutively.

On Wednesday, the Kenyan shilling weakened against the US Dollar by 0.72 percent on a year-to-date basis.

The shillings went further down against the Sterling Pound and the Euro by 8.54 and 13.76 percent respectively.

Kenyan Stock Market

On Wednesday, the market turnover at the bourse went up 279.9 percent to USD 7.84 million or an equivalent of 809.21 million shillings from Tuesday’s trading.

NSE 20 and NASI dropped 1.41 percent and 0.67 percent to close the day at 3,644.80 and 159.78 respectively.

Foreign investors assumed a net buying position by accounting for 84.8 percent of total market purchases and 74.6 percent of total market sales.

EAC Markets  

In Rwanda, the RSE RSI and RASI were down 0.90 percent and 0.11 percent to close at 123.50 and 131.80 respectively.

On the other hand, in Uganda, the USE ALSI gained 0.24 percent to close at 1,677.80 while USE LCI dropped 0.31 percent to close at 374.67.

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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