Kenyan Shilling Weakens Further, Falls Lowest Against The US Dollar

The Kenyan shilling has continued to receive a beating from the US Dollar. Despite threats and warnings from President William Ruto, the shilling has defied the orders and continued to present itself for a beating from the US Dollar.

Exchange Rate Performance on Thursday

The Kenyan shilling weakened by 0.10 percent against the US Dollar to close at 137.37 (-11.35 percent year-to-date). It, however, strengthened against the pound by 0.19 percent to close at 171.38 (-15.43 percent year-to-date).

Against the Euro, the local currency also had a field day and strengthened by 0.37 percent to close at 148.81 (-13.37 percent year-to-date).

Related Content: The Impact Of A Weak Or Strong Kenyan Shilling Against The US Dollar: Implications For Importers And Exporters

Kenyan Stock Market on Thursday

Total equity turnover declined by 54.26 percent to close at USD 1.67 million (229.64 million shillings) compared to Wednesday’s turnover of USD 3.65 million (502.01 million shillings).

NSE 20 and NASI dropped by 0.52 percent and 1.64 percent to close at 1,475.32 and 98.34 respectively.

Foreign investors assumed a net selling position by accounting for 21.16 percent of total market purchases and 52.45 percent of total market sales.

Related Content: Looks Like The Fall Of The Kenyan Shilling Is Inevitable