Shilling Still Going Down, But Equities Are Blooming

Exchange Rate Performance

The first day of the Month of November saw the Kenyan shilling continue to receive a beating from the dollar. There seems to be no help on the horizon. The local currency, however, gained ground against the Pound and the Euro.

Here is the exchange:

USD|KES: KES weakened 0.04 percent to close at 121.38 (-7.28 percent year-to-date).

GBP|KES: KES strengthened 0.36 percent to close at 139.79 (+8.06 percent year-to-date).

EUR|KES: KES strengthened 0.63 percent to close at 120.34 (+5.98 percent year-to-date).

Kenyan Stock Market

Total equity turnover grew by 439.52 percent to close at USD 4.64 MN (KES 563.46 MN) compared to yesterday’s turnover of USD 0.86 MN (KES 104.44 MN).

NSE 20 grew by 0.16 percent to close at 1,680.37 while NASI shrunk by 0.16 percent to close at 128.60.

Foreign investors assumed a net buying position by accounting for 86.64 percent of total market purchases and 81.23 percent of total market sales.

Related Content: Kenyan Shilling Yet To Find Favor From The US Dollar