The Kenyan shilling is down, at its lowest in history, but the referee, the Central Bank of Kenya says “all is well and the game should go on.” The shilling has been quoted at 121 shillings to the dollar although the CBK says that it is at 116 shillings to the dollar.
On Monday, the local currency was quoted by Dyer and Blair Investment Bank to have weakened 0.02 percent to close the day at 116.85 shillings (-3.28 percent year-to-date). At the same time, the shilling weakened 0.05 percent against the Pound to close at 146.98 (+3.34 percent year-to-date).
The local currency also weakened 0.24 percent against the Euro to close at 125.27 (+2.13 percent year-to-date).
Kenyan Stock Market
Total equity turnover rose by 26.67 percent to close at USD 3.44 MN (402.36 million shillings) compared to Friday’s turnover of USD 2.72 million (317.65 million shillings). NSE 20 shed 0.21 percent to close at 1,696.18 while NASI gained 0.26 percent to close at 129.74.
Foreign investors assumed a net selling position by accounting for 2.96 percent of total market purchases and 80.49 percent of total market sales.
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