Hope as Kenyan Shilling Gains Traction Against Dollar, Pound and Euro

Kenyan Shilling

The Kenyan shilling gained traction against the US Dollar, the Sterling Pound, and the Euro on Tuesday, signaling hope for the local currency.

On Tuesday, the Kenyan shilling strengthened against the US Dollar by 0.04 percent from Monday’s level to 103.22 shillings.

The shilling, also, strengthened against the Sterling Pound by 0.02 percent after being slightly lower on Monday to close the day at 139.79.

Against the Euro, the shilling further strengthened by 0.74 percent from Monday’s level to 123.52

Kenyan Stock Market

The market turnover at the bourse went up 181.4 percent to USD 9.99 million or an equivalent of 1,030.8 million shillings from Monday’s trading.

The NSE 20 and NASI gained 0.56 percent and 0.12 percent to close at 3,728.51 and 174.14 respectively.

Foreign investors assumed a net selling position by accounting for 92.3 percent of total market sales and 80.3 percent of total market purchases.

EAC Markets   

In Rwanda, the RSI and the RASI remained at 135.38 and 133.48 respectively while in Uganda, the USE ALSI declined 0.51 percent to close at 1,960.20 while the USE LSI gained 0.01 percent to close at 381.89.