Kenyan Shilling Still Scaling the Heights Against the US Dollar

The Kenyan Shilling

The Kenyan shilling has maintained resilience against the US dollar with economic analysts saying that the local currency has a better future this year.

On Monday, the shilling kicked off the week by strengthening against the US Dollar by 0.03 percent compared to the session on Friday to close the day at 103.07 shillings.

The shilling, however, weakened against the Sterling Pound and the Euro respectively.  Against the Sterling Pound, the Kenyan Shilling weakened 0.87 percent from Friday’s level to 140.72 while against the Euro, the Kenyan Shilling weakened 1.33 percent from Friday’s level to 125.02

Kenyan Stock Market

Market turnover at the bourse went up 5.3 percent to USD 3.83 million or an equivalent of 394.8 million shillings from Friday’s trading.

The NSE 20 was down 0.31 percent to close at 3,703.76 while NASI rose 0.74 percent to close at 177.37.

Foreign investors, on the other hand, assumed a net selling position by accounting for 46.9 percent of total market sales and 43.1 percent of total market purchases.

EAC Markets   

In Rwanda, the RSI and RASI gained 0.24 percent and 0.04 percent to close at 135.37 and 133.48 respectively while in Uganda, the USE ALSI rose 0.25 percent while USE LSI dropped 1.13 percent to close at 2,023.03 and 389.68 respectively.