Shilling Gains Traction Against the Dollar, Loses Ground against the Pound

The Kenyan shilling gained traction against the US Dollar and the Euro but lost ground against the Sterling Pound

Against the US Dollar, the shilling strengthened 0.20 percent from Wednesday’s level to 101.06 shillings to the dollar.

The shilling went ahead to strengthen against the Euro, by 0.52 percent from Wednesday’s level to 123.55 shillings.

The local currency, however, lost ground against the Sterling Pound by 0.22 percent from the session on Wednesday to 142.16 shillings.

Kenyan Stock Market

Market turnover at the bourse dropped 9.3 percent to USD 16.99 million or an equivalent to 1,716.9 million shillings from Wednesday’s trading.

The NSE 20 declined 0.28 percent to close at 3,851.37 while NASI rose 0.64 to close at 191.67.

Foreign investors assumed a net buying position by accounting for 60.5 percent of total market purchases and 57.3 percent of total market sales.

EAC Markets   

In Rwanda, the RSI and RASI held constant at 133.93 and 133.27 respectively while in Uganda, the USE ALSI grew 0.76 percent while USE LCI declined 1.13 percent to close at 2,179.67 and 395.02 respectively.