Kenyan Shilling Up: Gains Traction Against US Dollar, Sterling Pound and Euro

By Juma Fred / December 8, 2017

The Shilling

The Kenyan shilling emerged stronger on Thursday to gain traction against the US Dollar, the Sterling Pound, and the Euro.

Against the US Dollar, the Kenyan Shilling strengthened 0.10 percent from Wednesday’s level to close the day at 102.88. This was, however, 0.38 percent lower on a year-to-date.

Against the Sterling Pound, the Kenyan Shilling strengthened 0.50 percent from Wednesday’s level to close the day at 137.54. This was also 9.66 percent lower on a year-to-date.

Against the Euro, the Kenyan Shilling strengthened 0.40 percent from Wednesday’s level to 121.30 with this being 13.30 percent lower on a year-to-date.

Kenyan Stock Market

The market turnover at the bourse declined 14.8 percent to USD 7.21 million or an equivalent of 741.74 million shillings from Wednesday’s trading.

The NSE 20 and NASI rose 0.03 percent and 0.84 percent to close at 3,752.17 and 175.08 respectively.

Foreign investors assumed a net buying position by accounting for 70.0 percent of total market purchases and 57.3 percent of total market sales.

EAC Markets  

In Rwanda, the RSE RSI and RASI rose 1.63 percent and 0.23 percent to close at 134.39 and 133.34 respectively while in Uganda, the USE ALSI and USE LCI went up 0.60 percent and 0.36 percent to close at 1,804.21 and 381.47 respectively.

About Juma Fred

Juma Fredrick is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it. You can reach him on: (020) 528 0222 or Email: [email protected]

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