Shilling Closes Week below 102 Threshold Against US Dollar

Currency

The Kenyan shilling ended the week on the back of a mixed performance, having gained against three out of seven of its basket of international and regional peers. The shilling marginally 0.15% against the US Dollar to 101.98; though it did close the week on a relatively stronger position than the previous week having gone below the 102 threshold. This was largely spurred by subsiding demand as we approach the end of the year. The South African Rand extended further weakening to historic lows for a third day, having shed a further 3.91% against the Kenyan shilling, with investors uncertain over President Zuma’s economic management and new finance minister. Further gains were registered against the Ugandan Shilling by 1.96%.

Foreign Investor Participation

The foreign participation closed the week on a relatively lower trading session note, accounting for 64.65% of total turnover against 35.35% of local participation. Sell off activities did not offset buy side, resulting in net inflows worth KES 60.07Mn relative to KES 40.71Mn net inflows on Thursday.

Foreign investors accounted for 64.65% of the NSE turnover as compared to 74.99% on Thursday. Foreign investors engaged in net accumulative activities, resulting in net inflows worth KES 60.07Mn.

Safaricom Limited (NSE: SCOM) was the day’s highest traded stock, recording a turnover of KES 122.14Mn to account for 16.79% of total market activity and 25.97% of foreign investor activity, followed by Kenya Commercial Bank Limited (NSE: KCB) with a turnover of KES 59.97Mn representing 8.24% of total market activity and 12.75% of foreign investor activity.

CFC Stanbic Kenya Limited (NSE: CFC) posted the day’s highest net inflows worth KES 42.70Mn and the day’s highest net outflows, worth KES 18.48Mn, were posted by Kenya Commercial Bank Limited (NSE: KCB).