Kenyan Shilling Hits an All-time High against the Dollar

The shilling

The Kenyan shilling hit an all-time high against the US Dollar during the session on Tuesday further dispelling what most analysts had predicted at the beginning of the year.

The shilling was quoted at 100.35 shillings to the dollar, strengthening 0.14 percent from its performance on Monday where it was at 100.63 shillings to the dollar.

Most analysts at the beginning of the year had predicted that the shilling would fall as low as 107 shillings to the dollar but the local currency has remained resilient and gaining against the dollar.

Against the Sterling Pound, however, the shilling weakened by 0.21 percent from Monday’s level to 144.02 shillings to the pound.

Against the Euro, the Kenya Shilling also weakened by 0.34 percent from Monday’s level to 124.61 shillings to the Euro.

Kenyan Stock Market

The market turnover at the bourse rose 22.7 percent to USD 6.72 million or an equivalent to 676.2 million shillings from Monday’s trading.

The NSE 20 and NASI declined 0.81 percent and 1.49 percent to close at 3,770.92 and 186.85 respectively.

Foreign investors assumed a net selling position by accounting for 58.6 percent of total market sales and 46.7 percent of total market purchases.

EAC Markets   

In Rwanda, the RSI and RASI held constant at 132.76 and 133.11 respectively while in Uganda, the USE ALSI and USE LCI declined 0.40 percent and 0.54 percent to close at 2,255.42 and 408.70 respectively.