Kenya Shilling Slides to 2-Year Low Against USD on Eve of Elections

The Kenyan Shilling on Monday’s session tanked to a two year low against the dollar ahead of Tuesday’s General elections.

In the afternoon, the shilling plunged to trade at Sh 104.005 against the US Dollar, marking its lowest level since September 28th 2015.

Stock Market

According to Sterling Capital, election fever kept investors away on Monday as the market traded only 10.35 Million shares, a 64.74% drop from 26.36 Million traded at the close of last week. Turnover fell as well, declining by 64.30% to Ksh 302.95 Million from Sh 848.71 Million.

Foreign participation also plunged to 42.59% while a majority of blue chip companies witnessed foreign exits.

Indexes

The NSE 20 Share Index gained 42.98 points to 3,818.27 points while the Nairobi All Share Index (NASI) was up 0.42% to 200.52 points.