Kenyan Shilling Still On A Free Fall, Ends Wednesday Lowest In History

The Kenyan shilling is still on a free-fall mission. On Wednesday, the local currency fell the lowest in history against the US Dollar, ending the day losing 0.11 percent to close at Exchange Rate Performance at 139.63 (-13.17 percent year-to-date).

The shilling also weakened by 0.55 percent against the British Pound to close the day at 175.79 (-18.40 percent year-to-date). The local currency went ahead and weakened by 0.47 percent against the Euro to close at 150.78 (-14.86 percent year-to-date).

On the Kenyan Stock Market, the total equity turnover rose by 20.36 percent to close at USD 1.98 MN (KES 276.85 MN) compared to yesterday’s turnover of USD 1.65 MN (KES 230.03 MN).

NSE 20 and NASI declined by 0.003 percent and 0.33 percent to close at 1,580.92 and 101.34 respectively.

Foreign investors assumed a net selling position by accounting for 28.33% of total market purchases and 66.14 percent of total market sales.

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