Kenyan Shilling Drops Further, Hits Lowest In History

Kenyan Shilling

The Kenyan shilling has continued with its depreciation trend this month, falling to the lowest on a daily basis, and hitting the lowest in history on Wednesday against the US Dollar.

Data shared by Genghis Capital indicated that the local currency weakened by 0.06 percent against the US Dollar to close at 124.25 (-0.71 percent year-to-date). It also weakened 0.14 percent against the Euro to close at 135.20 (-3.00 percent year-to-date).

There was, however, some little breathing space for the shilling when it slightly strengthened against the Pound by 0.43 percent to close at 152.99 (-3.04% year-to-date).

Kenyan Stock Market

Total equity turnover edged up by 45.14 percent to close at USD 3.80 million (471.95 million shillings) compared to yesterday’s turnover of USD 2.62 million (325.18 million shillings).

NSE 20 shed 0.03 percent to close at 1,675.07 while NASI gained 1.05 percent to close at 126.63.

Foreign investors assumed a net buying position by accounting for 24.82% of total market purchases and 20.50 percent of total market sales.

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