Abacus Wealth Management

Forex Trail – 11 May 2012

Below is the performance of the Kenyan Shilling against major world and regional currencies as compared to the day before:

Currency US Dollars Sterling Pounds Euro SA Rand KES/USHS KES/TSHS KES/RWF
Date 09/05/2012 83.2831 134.7159 108.5593 10.6367 29.7781 18.9835 7.2345
10/05/2012 83.3972 134.6141 108.0031 10.4418 29.8572 18.8856 7.2247

As we can see the Kenya Shilling weakened marginally against the US Dollar and the Ugandan Shilling. It strengthened against the Sterling Pound, the Euro, the South African Rand, the Tanzanian Shilling and the Rwandan Franc.

The Kenya Shilling lost ground against the US Dollar due to increased demand for dollars, this has put downward pressure on the Kenya Shilling causing it to depreciate as observed.

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