Kenyan Shilling Continues to Hold Waters Against the Dollar

The Kenyan shillings appears to be determined in making sure that the dollar does not put to shame like it did before. For the past one month, the shilling has held its ground by strengthening against the US Dollar.

On Wednesday, shillings strengthened against the US Dollar by 1.59 percent year to date. Against the Sterling Pound, the shilling came out strongly by strengthening by 4.12 percent year to date. However, the shilling has continuously weakened against the dollar. Wednesday was no different as it weakened further by 2.60 percent year to date.

At the Kenyan Stock Market on Wednesday…

The market turnover at the bourse recorded a decrease of 36.1 percent to close the day at 622.34 million or simply 6.18 million US Dollars.

The NSE 20 Index and the NASI Index gained 0.45 percent and 0.39 percent respectively to close the day at 3,934.43 and 146.21 points respectively.

At the bourse, foreign investors assumed a net buying position by accounting for 74.3 percent of total market purchases and 73.4 percent of total market sales.

At the East African Markets

The RSE RSI and RSE ALSI of Rwanda gained 0.1 percent and 0.01 percent respectively to end the day at 145.60 and 130.45.

The USE ALSI and USE LSI declined 0.21 percent and 1.15 percent respectively to end the day at 1,770.00 and 381.53 respectively.

Article by Juma Fred.