Putting the Shilling into Perspective: How Has it performed in the last 13 months?

By Soko Directory Team / February 13, 2018


The Kenyan shilling has been on the receiving end from the US Dollar, the Sterling pound, and the Euro.

The year 2017 was a challenging one for the shilling. The unending political uncertainty saw the shilling come under pressure from other global giants.

The pressure saw the shilling close the month of July 2017 at 103.9 shillings to the dollar, similar to what it had posted at the end of January 2017.

In 2018, the shilling has kicked off strongly, gaining traction against the three major currencies: the US Dollar, the Sterling Pound, and the Euro.

Economic analysts, however, have predicted doom for the shilling saying the resilient is just short-lived.

Some like Cytonn Investments have predicted that the shilling will go as low as 107 shillings to the dollar during the year.

Whether that economic prophecy against the shilling will come to pass or not, only time will tell.

The image below shows how the shillings has been performing against the dollar in the last 13 months between January 2017 and January 2018:

From the image above, the shilling has been fluctuating between 102.9 shillings to the dollar and 103.9 shillings to the dollar.

Analysts from Barclays Africa Group say the shilling will hit 104 against the dollar while those from Cytonn say it will go as far as 107 shillings to the dollar.



About Soko Directory Team

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