Shilling Still Soldiering On: Are Those Preaching Doom Wrong?

Kenyan Shilling

The Kenyan shilling has remained resilient against the US Dollar, the Sterling Pound, and the Euro despite some financial analysts warning that it will weaken soon.

On Wednesday, the shilling strengthened against the US Dollar by 0.06 percent from the level on Tuesday to close at 101.31 shillings to the dollar.

The shilling went further to strengthen against the Sterling Pound by 1.04 percent from Tuesday’s level to close at 140.52 shillings to the pound.

Against the Euro, the Kenya Shilling strengthened 0.71 percent from Tuesday’s level to 125.01 to the Euro.

Kenyan Stock Market

The Market turnover at the bourse declined 44.9 percent to USD 10.87 million or an equivalent to 1,101.0 million shillings from Tuesday’s trading.

The NSE 20 and NASI declined 0.8 percent and 1.8 percent to close at 3,729.34 and 178.11 respectively.

Foreign investors assumed a net selling position by accounting for 72.2 percent of total market sales and 20.2 percent of total market purchases.

EAC Markets   

In Uganda, the USE ALSI gained 0.12 percent to close at 2,080.15 while USE LSI dropped 0.28 percent to close at 390.30.

In Rwanda, the RSI and RASI declined 0.07 percent and 0.02 percent to close at 132.39 and 133.05 respectively.