Shilling Refuses To Go Down, Gains Traction Against The Dollar

The Kenyan shilling seems to be defying the odds as 2018 snails to completion by slightly gaining traction against the US dollar during the session on Thursday.

The Kenyan Shilling strengthened by 0.08 percent against the US dollar to close at 102.60 shillings to the dollar on Thursday. The shilling is still at 0.61 percent stronger on year-to-date against the dollar.

Against the Sterling Pound, the local currency weakened by 0.16 percent to close at 131.25 but remained at 5.41 percent stronger on a year-to-date basis.

Against the Euro, the shilling strengthened 0.48 percent to close at 115.77 shillings and at 6.09 percent stronger on a year-to-date basis.

Kenyan Stock Market

Market turnover dropped 20.6 percent to USD 3.90 million, an equivalent of 400.56million shillings from Wednesday’s turnover of USD 4.92 million.

The NSE 20 and NASI indices rose 0.35 percent and 0.01 percent to close at 2,790.30 and 145.32 respectively.

Foreign investors assumed a net selling position by accounting for 93.7 percent of total market sales and 73.8 percent of total market purchases.

EAC Markets   

Uganda: USE ALSI and USE LCI gained 1.72 percent and 1.18 percent to close at 1,709.00 and 404.93 respectively.

Rwanda: RSI and RASI held constant at 129.21 and 131.26 respectively.