Kenyan Shilling Slowly Coming Out of The Woods As Political Dust Settles

The Kenyan shilling is slowly coming out of the woods after being on the receiving end of the US Dollar, the Sterling Pound, and the Euro.

The shilling, however, is still low having weakened against the US Dollar by 1.18 percent, against the Sterling Pound by 8.18 percent and against the Euro by 12.15 percent on Monday.

On the Kenyan Stock Market, the market turnover dropped 16.2 percent to USD 2.8 million or an equivalent of 291.0 million shillings from Friday’s trading.

The NSE 20 and NASI went up 0.73 percent and 0.15 percent to close the day at 3,674.84 and 160.11 respectively.

Foreign investors assumed a net buying position by accounting for 59.1 percent of total market purchases and 58.5 percent of total market sales.

On the East African Community Markets, in Rwanda, the RSE RSI and RASI dropped 1.28 percent and 0.17 percent to close the day at 127.61 and 132.38 respectively while in Uganda, the USE ALSI and USE LCI declined 0.17 percent and 0.25 percent to close the day at 1,685.17 and 386.47 respectively.