The Shilling has continued its gain against the US Dollar, reaching levels last seen in June 2023.
Figures from the Central Bank of Kenya (CBK) show the currency is retailing at 137.4 units against the dollar.
It has gained by 1% against the green back after it closed Wednesday at 138.8 units.
The shilling last traded at 137 in June last year when commodity prices had soared with inflation rated at 7.9%.
At the time, the price of a 2kg packet of maize flour was retailing at Ksh.240.
Also Read: Shilling Strength Sees Kenya’s Billionaire Investment Up Ksh.209 Billion
But the February 2024 figures from the CBK indicate inflation edged down to 6.3%.
This has been attributed to the lowered cost of importing food and fuel prices.
Retailers are today selling maize floor at Ksh.115, representing a 52% difference from June last year.
NSE, over the past few days, has experienced increased activity as the shilling reclaims its glory.
Investors have been engaging in share acquisitions that have boosted Sasini Tea’s market presence.
The market has climbed 3.6% in the last 7 days, led by the Communication Services sector with a gain of 6.1%
Over the past seven days, Safaricom stocks have climbed by 6.2%, currently trading at Ksh.14.6 per share.
