Shilling Weakens Against Global Giants As Turnover at The NSE Gains 75.5 pc

Kenyan Shilling weakened against major global currencies on Monday with the trend expected to continue in the coming weeks as the prices of goods continue to bite into most Kenyans.

The shilling weakened against the dollar by 0.64 percent in a year-to-date. The local currency also went ahead to lose against the Sterling Pound by 6.42 percent while maintaining the same trend against the Euro by losing 5.68 percent.

At the Kenyan Stock Market, the market turnover at the bourse gained 75.5 percent to USD 7.6 million or 784.6 million shillings from Friday’s trading.

The NSE 20 and NASI gained 1.2 percent and 0.2 percent to close at 3,154.38 and 136.82 respectively while Foreign investors assumed a net buying position accounting for 87.5 percent of total market purchases and 83.3 percent of total market sales.

Across the pond for other the EAC Markets, in Uganda, the USE ALSI went up 0.5 percent to close at 1,581.14 while the USE LCI lost 0.1 percent to close at 375.06 and in Rwanda, the RSI and RASI  held constant to close at 122.35 and 127.60 respectively.