Foreign Investors Assume Net Selling As Shilling Falls Further

On Tuesday, the Kenyan shilling weakened against the US Dollar, the Euro, and the British Pound. Against the UD Dollar, the shilling has now fallen to the lowest in history.

Against the US Dollar, the local currency weakened by 0.16 percent to close at 129.45 (-4.93 percent year-to-date). Against the Pound, the shilling weakened by 1.07 percent to close at 156.71 (-5.55 percent year-to-date). It also weakened against the Euro by 1.05 percent to close at 138.58.

On the Kenyan Stock Market, the total equity turnover rose by 10.84 percent to close at USD 1.09 million (141.52 million shillings) compared to yesterday’s turnover of USD 0.99 million shillings (127.67 million shillings).

NSE 20 and NASI  dropped by 0.53 percent and 1.11 percent to close at 1,589.52 and 113.75 respectively.

Foreign investors assumed a net selling position by accounting for 14.62 percent of total market purchases and 46.80 percent of total market sales.

Related Content: Weekly Bulletin: The Stability Of The Shilling And Foreign Reserves