The Shilling Still on a Downward Trend Against Major Global Currencies

For the fourth day running, the Kenyan shillings has continued its weakening trend against the US Dollar, the Sterling Pound, and the Euro.

On Thursday, the Kenyan Shilling weakened against the US Dollar by 0.9 percent on a year-to-date basis while maintaining against the Sterling Pound, the Shilling weakened by 5.1 percent on a year-to-date basis. Against the Euro, the Kenyan Shilling weakened by 8.3 percent on a year-to-date basis.

At the Kenyan Stock Market, the market turnover at the bourse dropped by 8.9 percent to USD 8.5 million or an equivalent of 881.1 million shillings.

The NSE 20 and NASI Indices gained 0.45 percent and 0.59 percent to close at 3,522.79 and 152.94 respectively while foreign investors assumed a net selling position by accounting for 76.9 percent of total market sales and 60.2 percent of total market purchases.

On the East African Community Markets, in Rwanda, the RSI and RASI indices gained 0.14 percent and 0.02 percent to close at 117.30 and 126.89 respectively while in Uganda, the USE ALSI lost 0.13 percent to close at 1,652.62 while USE LCI remained at 363.45.