Kenyan Shilling Sees More Stars, Falls Lowest In History

The Kenyan shilling is still being clobbered by the US Dollar. After the Central Bank of Kenya (CBK) announced that it will no longer intervene to stabilize the shilling, the local currency seems to have embarked on a free-fall, hitting its lowest on Thursday.

Exchange Rate Performance

• USD|KES: KES weakened by 0.06% to close at 142.20 (-15.26% year-to-date).
• GBP|KES: KES weakened by 0.69% to close at 183.64 (-23.69% year-to-date).
• EUR|KES: KES weakened by 0.34% to close at 157.39 (-19.91% year-to-date).

Kenyan Stock Market

Total equity turnover dropped by 52.87% to close at USD 1.10 MN (KES 156.10 MN) compared to yesterday’s turnover of USD 2.33 MN (KES 331.19 MN).

NSE 20 dropped by 0.51% to close at 1,582.03 and NASI rose by 2.07% to close at 107.34.

Foreign investors assumed a net buying position by accounting for 26.50% of total market purchases and 21.13% of total market sales.

Related Content: Kenyan Shilling Still Under Pressure, Hits The Lowest In History

Data from Dyer & Blair Investment Bank