Kenyan Shilling Still on the Receiving End after Dismal Performance on Tuesday

The Kenyan shilling has continued being on the receiving end, weakening against the US Dollar, the Sterling Pound, and the Euro.

The shilling weakened against the US Dollar by 0.76 percent against the 0.72 percent recorded on Monday. The shilling weakened further against the Sterling Pound by 8.22 percent against the 7.29 percent on Monday. The shilling went deep against the Euro by 13.16 percent as compared to 12.75 percent on Monday.

Kenyan Stock Market

The market turnover at the bourse dropped 56.5 percent to USD 2.06 million or an equivalent of 213.0 million shillings from Monday’s trading. This was contrary to what was witnessed on Monday where the market turnover at the bourse increased by 113.5 percent to 490.0 million shillings.

The NSE 20 and NASI declined 0.42 percent and 0.11 percent to close the day at 3,696.77 and 160.85 points respectively.

Foreign investors assumed a net selling position by accounting for 67.5 percent of total market sales and 28.5 percent of total market purchases.

EAC Markets

In Rwanda, the RSE RSI and RASI went up 2.24 percent and 0.29 percent to close the day at 124.62 and 131.95 respectively while in Uganda, the USE ALSI was down 1.35 percent while USE LCI gained 0.01 percent to close at 1,673.77 and 375.85 respectively.