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Concerns As Kenyan Shilling Drops Lowest In History

BY Soko Directory Team · November 5, 2022 12:11 pm

KEY POINTS

Total equity turnover grew by 113.04 percent to close at USD 1.69 million (204.91 million shillings) compared to Thursday's turnover of USD 0.79 million (96.18 million shillings).

KEY TAKEAWAYS

NSE 20 and NASI shrunk by 0.41 percent and 0.21 percent to close at 1,675.66 and 127.55, respectively.

Foreign investors assumed a net selling position by accounting for 85.63 percent of total market purchases and 90.37 percent of total market sales.

Exchange Rate Performance

Concerns have started being raised about the stability of the Kenyan shilling as it continues to suffer against the US Dollar. On Friday, the local currency weakened 0.04 percent to close at 121.50 shillings (-7.39 percent year-to-date).

At the same time, the shilling tried and held ground against both the Pound and the Euro. Against the Pound, the shilling strengthened 2.11 percent to close at 136.90 (+9.97 percent year-to-date). Against the Euro, the shilling strengthened 1.24 percent to close at 118.85 (+7.15 percent year-to-date).

Kenyan Stock Market

Total equity turnover grew by 113.04 percent to close at USD 1.69 million (204.91 million shillings) compared to Thursday’s turnover of USD 0.79 million (96.18 million shillings).

NSE 20 and NASI shrunk by 0.41 percent and 0.21 percent to close at 1,675.66 and 127.55, respectively.

Foreign investors assumed a net selling position by accounting for 85.63 percent of total market purchases and 90.37 percent of total market sales.

Related Content: Kenyan Shilling Sinks Further Against The US Dollar

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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