The Kenyan shilling seems to be on a free fall, to the land of no return. On Monday, the local currency kicked off the week by weakening the most in history against the US Dollar.
Stats from Dyer and Blair show that the Kenyan shilling weakened by 0.17 percent against the US Dollar to close the day at 127.76 (-3.55 percent year-to-date). The shilling also weakened by 0.44 percent against the Pound to close at 153.24 (-3.22 percent year-to-date).
Against the Euro, the local currency weakened by 0.21 percent to close at 135.67 (-3.36 percent year-to-date).
At the same time, the total equity turnover at the Kenyan stock market declined by 18.09 percent to close at USD 1.13 Million (143.80 million shillings) compared to Friday’s turnover of USD 1.37 million (175.54 million shillings).
NSE 20 increased by 0.66 percent to close at 1,644.92 and NASI shed 0.30 percent to close at 125.79.
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