Kenyan Shilling Weakens Against The Dollar, Euro, And Pound

Exchange Rate Performance

The year is almost coming to an end and the Kenyan shilling seems to have decided that it will not stand in the way of the US Dollar. The shilling has so far fallen to the lowest in history against the US Dollar though has remained resilient against other peers.

On Friday, the local currency weakened 0.04 percent against the dollar to close at 122.79 (-8.53 percent year-to-date). The shilling also weakened 0.05 against the pound to close at 149.71. It shed 0.03 percent against the Euro to close at 129.11.

Kenyan Stock Market

Total equity turnover dropped by 53.99 percent to close at USD 0.69 million (85.15 million shillings) compared to yesterday’s turnover of USD 1.51 million shillings (185.05 million shillings).

NSE 20 and NASI rose by 0.22 percent and 0.10 percent to close at 1,646.41 and 126.46 respectively.

Foreign investors assumed a net selling position by accounting for 45.49 percent of total market purchases and 52.18 percent of total market sales.