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The Fall Of The Kenyan Shilling Continues, Hits The Lowest In History

BY Dyer and Blair · September 8, 2023 07:09 am

The Kenyan shilling has continued to fall against the world’s top three currencies; the US Dollar, the British Pound, and the Euro. Against the US Dollar, the shilling has dropped to the lowest in history with no hope in the near future.

Exchange Rate Performance

  • USD|KES: KES weakened by 0.09 percent to close at 146.04 (-18.37 percent year-to-date).
  • GBP|KES: KES weakened by 0.03 percent to close at 183.34 (-23.49 percent year-to-date).
  • EUR|KES: KES weakened by 0.07 percent to close at 156.74 (-19.41 percent year-to-date).

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Kenyan Stock Market

Total equity turnover dropped by 56.68 percent to close at USD 1.12 million (KES 163.99 million) compared to yesterday’s turnover of USD 2.59 MN (KES 378.55 million).

NSE 20 dropped by 0.33 percent to close at 1,536.92 and NASI remained flat to close at 197.98.

Foreign investors assumed a net selling position by accounting for 13.61 percent of total market purchases and 70.00 percent of total market sales.

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