Shilling Plunges Further To The Lowest In History

The Kenyan shilling weakened by 0.06 percent on Friday to close the day at 124.59 (-0.99 percent year-to-date). This is the lowest the local currency has fallen in history. Experts have continued predicting doom for the local currency.

On slightly positive news that might not last, the shilling strengthened by 0.25 percent against the pound to close at 153.19 (-3.18 percent year-to-date) but weakened by 0.62 percent against the Euro to close at 136.41 (-3.92 percent year-to-date).

Kenyan Stock Market

Total equity turnover dropped by 39.35 percent to close at USD 1.20 million (149.17 million shillings) compared to yesterday’s turnover of USD 1.97 MN (245.94 million).

NSE 20 and NASI gained 0.35 percent and 1.24 percent to close at 1,664.14 and 129.24, respectively.

Foreign investors assumed a net selling position by accounting for 27.51% of total market purchases and 34.36% of total market sales.

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