Any Hope For The Shilling As It Hits Rock Bottom?

The Kenyan shilling weakened against three major currencies on Wednesday. The local currency is currently at its lowest in history against the US Dollar.

On Wednesday, the shilling weakened 0.03 percent against the US Dollar to close at 120.26. The shilling also weakened 0.48 against the Pound to close at 138.90. It closed the day lower by 0.16 percent to close at 119.50 against the Euro.

On the Kenyan Stock Market, the total equity turnover fell by 22.89 percent to close at USD 2.17 MN (KES 260.51 MN) compared to yesterday’s turnover of USD 2.81 MN (KES 337.83 MN). NSE 20  remained constant at 1,807.36 while NASI fell by 2.19% to close at 144.05.

Foreign investors assumed a net selling position by accounting for 11.41% of total market purchases and 30.90% of total market sales.

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