Kenyan Shilling Still Receiving A Beating From The Dollar

The Kenyan shilling continued to receive a beating against the US Dollar on Wednesday. The local currency was at its lowest on Wednesday shedding 0.06 percent to close the day at 116.07. This was also 2.59 weaker on a year-to-date.

However, the shilling strengthened against the British Pound by 0.11 percent to close at 143.75, 5.46 strength year-to-date. The shilling however weakened against the EURO by 0.23 percent to close at 122.52 (+4.28 year-to-date).

On the Kenyan Stock Market, total equity turnover eased by 36.40 percent to close at USD 3.40 million (KES 394.70 MN) compared to yesterday’s turnover of USD 5.35 MN (KES 620.60 MN). The NSE 20 and NASI rose by 0.33 percent and 0.40% to close at 1,754.47 and 145.18 respectively.

Foreign investors assumed a net selling position by accounting for 47.22% of total market purchases and 86.06% of total market sales.