Markets

Kenya Shilling Hits 137 Units Aginst Dollar, Level Last Seen in June

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.

Kenya Shilling Hits 137 Level Last Seen in June
Real time stock quote by Safaricom
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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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