Kenyan Shilling Remains Resilient Against US Dollar

The Kenyan shilling has remained resilient against the global giants. The US Dollar, the Sterling Pound and the Euro.

The shilling, which has been on the receiving end due to the tough political environment, started to gain visibility after the Supreme Court of Kenya upheld the reelection of President Uhuru Kenyatta.

On Tuesday, the Kenyan shilling slightly weakened against the US Dollar by 1.09 percent on a year-to-date basis. The shillings went further to weaken against the Sterling Pound by 9.39 percent while against the Euro, the Kenyan Shilling weakened 13.93 percent.

Kenyan Stock Market

The market turnover at the bourse increased 18.3 percent to USD 6.34 million or an equivalent of 657.1 million shillings from Tuesdays’ trading.

The NSE 20 and NASI gained 1.02 percent and 2.09 percent to close the day at 3,817.77 and 168.27 respectively.

Foreign investors assumed a net buying position by accounting for 52.4 percent of total market purchases and 51.5 percent of total market sales.

EAC Markets  

In Rwanda, the RSE RSI and RASI held constant at 132.32 and 133.04 respectively while in Uganda, the USE ALSI gained 1.45 percent to close at 1,751.98 while USE LCI dropped 0.29 percent to close at 381.54.