Looks like there is no going back to where the Kenyan shilling was stronger and gaining against the US Dollar. The local currency seems to be on a losing spree, falling to the lowest in history on Thursday.
At the close of the day today, the shilling weakened by 0.18 percent against the US Dollar to close at 128.59 (-4.23 percent year-to-date).
However, unlike the previous days, the shilling surprisingly strengthened against both the Euro and the Pound. Against the Pound, it strengthened by 1.22 percent to close at 152.26 shillings (-2.56 percent year-to-date). Against the Euro, it strengthened by 0.97 percent to close at 135.60 (-3.30 percent year-to-date).
At the same time, on the Kenyan Stock Market, the total equity turnover dropped by 43.65 percent to close at USD 3.19 million (410.59 million shillings) compared to Wednesday’s turnover of USD 5.67 million (728.64 million shillings).
NSE 20 rose by 0.64 percent to close at 1615.95 and NASI dropped by 0.35 percent to close at 118.77.
Foreign investors assumed a net selling position by accounting for 57.03% of total market purchases and 59.70 percent of total market sales.
