Is There Any Hope For The Kenyan Shilling This Year?

The Kenyan shilling has continued to be clobbered by the US Dollar and it seems there is no hope as the year melts away. The shilling kicked off this week losing to the lowest in history against the US Dollar.

Exchange Rate Performance

The Kenyan shilling weakened by 0.05 percent against the US Dollar to close at 122.59 (-8.35 percent year-to-date). It also weakened by 0.77 against the Pound to close at 150.51 (+1.02 percent year-to-date). It maintained the same weakening against the Euro by 0.69%.

Kenyan Stock Market

Total equity turnover grew by 14.28% to close at USD 1.67 MN (KES 204.29 MN) compared to Friday’s turnover of USD 1.46 MN (KES 178.77 MN).

NSE 20 and NASI fell by 0.78% and 1.58% to close at 124.42 and 1,637.19, respectively.

Foreign investors assumed a net selling position by accounting for 35.10% of total market purchases and 72.16% of total market sales.

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