Kenyan Shilling Beats the Odds to Gain Traction Against the Dollar

Kenyan shilling has continued to sail through those who predicted its early demise by gaining traction against the US Dollar, the Euro, and the Sterling Pound.

Against the US Dollar, the Kenyan Shilling strengthened by 0.19 percent to close at 100.55 shillings. On a year-to-date basis, the shilling is still 2.60 percent strong.

Against the Sterling Pound, the local currency strengthened 0.004 percent to close at 131.92 shillings with 4.92 percent on a year-to-date basis.

Against the Euro, the Kenya Shilling strengthened 0.20 percent to close at 117.74 shillings to the Euro, maintaining 4.49 percent on a year-to-date basis.

Kenyan Stock Market

Market turnover at the bourse stood at USD 3.47 million, an equivalent to 349.1 million shillings. This was a 17.7 percent decrease from Monday’s turnover. 

The NSE 20 and NASI declined 0.18 percent and 0.03 percent to close at 3,312.83 and 172.38 respectively.

Foreign investors assumed a net selling position by accounting for 82.1 percent of total market sales and 75.2 percent of total market purchases.

EAC Markets 

Rwanda: RSI and RSE ALSI declined 0.25 percent and 0.03 percent to close at 131.44 and 131.58 respectively. 

Uganda: USE ALSI and USE LCI dropped 0.51 percent and 0.27 percent to close at 2,055.60 and 415.37 respectively.

Tanzania: DSEI and TSI rose 1.87 percent and 0.01 percent to close at 2,333.61 and 4,207.58 respectively.