Kenyan Shilling Seems Determined To Be Clobbered By The US Dollar

By Soko Directory Team / Published May 26, 2023 | 5:36 pm

KEY POINTS

Foreign investors assumed a net selling position by accounting for 32.50 percent of total market purchases and 35.49 percent of total market sales.

The Kenyan shilling has continued being clobbered by the US Dollar, falling the lowest against the green paper to end the day at 138.25 shillings, 0.09 percent than Thursday, a 12.06 percent drop on a year-to-date basis.

The shilling, however, strengthened by 0.38 percent against the British Pound to close at 170.55 shillings (-14.88 percent year-to-date). The shilling also strengthened by 0.53 percent against the Euro to close at 148.13 shillings (-12.85 percent year-to-date).

On the Kenyan Stock Market, the total equity turnover dropped by 6.33 percent to close at USD 3.35 million (462.72 million shillings) compared to yesterday’s turnover of USD 3.57 million (493.98 million shillings). NSE 20 and NASI rose by 0.49 percent and 0.27 percent to close at 1,488.15 and 97.93 respectively.

Foreign investors assumed a net selling position by accounting for 32.50 percent of total market purchases and 35.49 percent of total market sales.

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