Kenyan Shilling Still Weakening As The Year Melts

Exchange Rate Performance

The Kenyan shilling opened the week in the red. On Monday, the local currency weakened against all major currencies; US Dollar, Pound, and Euro.

Against the US Dollar, the Kenyan shilling weakened 0.04 percent to close at 121.83 (-7.68 percent year-to-date). It shed off 2.34 percent against the pound to close at 143.19 (+5.83 percent year-to-date). It went ahead and weakened by 2.52 percent against the Euro to close at 125.27 (+2.13% year-to-date).

Kenyan Stock Market

Total equity turnover shrunk by 54.50 percent to close at USD 1.11 MN (KES 135.37 MN) compared to Friday’s turnover of USD 2.44 MN (KES 297.49 MN).

NSE 20 and NASI dropped by 0.63 and 0.19 percent to close at 1,655.89 and 127.85, respectively.

Foreign investors assumed a net selling position by accounting for 38.84% of total market purchases and 55.67 percent of total market sales.

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