Kenyan Shilling Continues to Head South Against Major Currencies

The Kenyan shilling has continued to head south against the US Dollar, the Sterling Pound, and the Euro.

Against the US Dollar, the Kenyan shilling weakened by 0.81 percent on a year-to-date basis. The shilling went further down against the Sterling Pound by 9.32 percent while against the Euro, the shilling drifted back by 13.53 percent.

On the Kenyan Stock Market, the market turnover at the bourse dropped 5.1 percent to USD 2.46 million 254.5 million shillings from Wednesday’s trading. The NSE 20 gained 0.29 percent to close at 3,702.51 while NASI declined 0.37 percent to close at 160.97. Foreign investors, on the other hand, assumed a net selling position by accounting for 77.9 percent of total market sales and 36.7 percent of total market purchases.

On the EAC Markets, in Uganda, the USE ALSI was up 0.14 percent to close at 1,709.55 while USE LCI declined 0.10 percent to close at 375.61 while in Rwanda, the RSE RSI and RASI dropped 0.31 percent and 0.05 percent to close at 122.43 and 131.64 respectively.