Shilling Closes the Week on a Coiled Tail against the Dollar

The Kenyan shilling ended the week on a gloomy note by weakening against the US Dollar, the Sterling Pound, and the Euro.

On Friday, the shilling lost traction against the US Dollar by 0.03 percent to from the session on Thursday to end the day at 101.29 shillings to the dollar.

The shilling went further down by 0.53 percent against the Sterling Pound from Thursday’s level to end the day at 141.42 shillings to the pound.

The weakening trend was replicated against the Euro where the local currency lost 0.16 percent from Thursday’s session to end the day at 125.06 shillings to the euro.

Kenyan Stock Market

The market turnover at the bourse declined 20.6 percent to USD 6.52 million or an equivalent to 660.8 million shillings from Thursday’s trading.

The NSE 20 and NASI gained 0.92 percent and 0.66 percent to close at 3,801.79 and 184.09 respectively.

Foreign investors assumed a net buying position by accounting for 55.1 percent of total market purchases and 46.9 percent of total market sales.

EAC Markets   

In Rwanda, the RSI and RASI stood at 134.02 and 133.28 respectively while in Uganda, the USE ALSI and USE LCI rose 0.29% and 0.18% to close at 2,124.36 and 394.41.