The Thursday Market Report: Exchange Rates And Stocks

Exchange Rate Performance

Will the Kenyan shilling ever get a reprieve from the US Dollar? It appears the local currency is being clobbered by the dollar with each passing day. On Thursday, it fell again, to its lowest in history and it looks like there is no going back.

USD|KES: KES weakened 0.04 percent to close at 112.86 (-3.38 percent year-to-date).

GBP|KES: KES strengthened 0.26 percent to close at 149.14 (-0.53 percent year-to-date).

EUR|KES: KES weakened 0.15 percent to close at 127.26 (4.95 percent year-to-date).

Kenyan Stock Market

Total equity turnover increased 26.02 percent to close at USD 8.03 MN (905.90 million shillings) compared to yesterday’s turnover of USD 6.37  (718.86 million shillings).

NSE 20 & NASI gained 0.43 percent and 0.67 percent to close at 1,838.69 and 160.03, respectively.

Foreign investors assumed a net selling position by accounting for 25.55 percent of total market purchases and 86.99 percent of total market sales.