Shilling Kicks Off The Week By Gaining Traction Against the Dollar

The Kenyan shilling kicked off the week on a positive note by gaining traction against the US Dollar, the Sterling Pound, and the Euro.

The shilling strengthened against the US Dollar by 0.02 percent as compared to Friday to close the day at 103.20.

The shilling dominated the Sterling Pound by strengthening 0.42 percent as compared to Friday to close the day at 137.97.

Against the Euro, the Kenyan Shilling strengthened 0.22 percent from Friday’s level to close the day at 121.78.

On a year-to-date basis, however, the shilling is still at the receiving end, across the board but showing resilience.

The market turnover at the bourse dropped 71.6 percent to USD 3.05 million or an equivalent of 315.14 million shillings from Friday’s trading.

The NSE 20 and NASI dropped 0.47 percent and 0.91 percent to close at 3,690.50 and 170.59 respectively

Foreign investors assumed a net buying position by accounting for 57.6 percent of total market purchases and 43.7 percent of total market sales.

On the EAC Markets, in Uganda, the USE ALSI declined 0.25 percent to close at 1,791.15 while  USE LCI held constant at 378.13 respectively.