Below is a summary of the Kenya Shilling’s performance against major currencies so far this week:
- The Kenya Shilling’s Performance so far this week
This week the shilling has remained stable against foreign currencies, exchanging in the range of KES 84 against the US dollar. Over the past three days of this week, the shilling has depreciated a total of 0.13 percent to exchange at KES 84.30 to the US dollar today compared to 84.19 and 84.26 on Monday and Tuesday respectively, data from the Central Bank of Kenya shows. This depreciation is due to dollar demand by importers to pay July end month bills according to a news report by Bloomberg.
Against the Euro the local currency has today gained 0.4 percent after losing 0.2 percent yesterday while against the Sterling Pound the shilling has appreciated a total of 0.3 percent since Monday to exchange at KES 130.73 to the Euro today.
Regionally, the Tanzania shilling has this week declined a total of 0.3 percent to exchange at the rate of 1 Tanzania Shilling to 18.78 Kenya Shillings from 18.84 Shillings on Monday, while the Uganda Shilling has gained a total of 0.3 percent against the Kenya Shilling this week.