Shilling Weakens on Thursday But Still Resilient Against the Dollar

The Kenyan shilling weakened slightly on Thursday against the US Dollar but held ground against the Sterling Pound and the Euro.

The shilling weakened against the US Dollar by 0.06 percent to close the day at 103.17. This was, however, 66 percent lower on a year to date basis.

The shilling, however, beamed against the Sterling Pound and the Euro by 0.16 and 0.30 percent respectively to close the day at 137.68 and 121.19 respectively.

On the Kenyan Stock Market, the market turnover at the bourse declined 33.0 percent to USD 9.29 million or an equivalent of 958.0 million shillings from Wednesday’s trading.

The NSE 20 and NASI declined 0.12 percent and 0.72 percent to close at 3,706.37 and 172.88 respectively.

Foreign investors assumed a net selling position by accounting for 82.0 percent of total market sales and 65.3 percent of total market purchases.

On the East African Community Markets, in Rwanda, the RSE RSI and RASI held constant at 135.47 and 133.49 respectively while in Uganda, the USE ALSI and USE LCI dropped 0.92 percent and 0.41 percent to close at 1,791.19 and 377.92 respectively.