Shilling Still Strong: Strengthens Against The Dollar, Pound and Euro

The Kenyan shilling has remained resilient against global major currencies by holding tight against the US Dollar, the Sterling Pound, and the Euro on Wednesday.

Against the US Dollar, the Kenyan Shilling strengthened 0.026 percent from Tuesday’s level to 100.34 shillings to the dollar.

Against the Sterling Pound, the local currency strengthened 0.30 percent from Tuesday’s level to 137.90 while against the Euro, it strengthened 0.71 percent to 120.48.

The market turnover at the bourse rose 10.8 percent to USD 8.25 MN or an equivalent to 827.9 million shillings from Tuesday’s trading.

NSE 20 declined 1.22 percent to close at 3,689.56 while NASI dropped 2.06 percent to close at 175.84.

Foreign investors assumed a net selling position by accounting for 73.32 percent of total market sales and 65.61 percent of total market purchases.