Abacus Wealth Management

Forex Trail – 29 May 2012

Below is a comparison of the performance of the Kenya Shilling over the last two trading days:

Currency US Dollars Sterling Pounds Euro SA Rand KES/USHS KES/TSHS KES/RWF
Date 25/05/2012 85.3153 133.5134 106.9232 10.184 29.186 18.6368 7.0621
28/05/2012 85.3958 134.1424 107.5728 10.2703 29.0648 18.6193 7.0555

 

As we can see, the Kenya Shilling continued to depreciate against the US Dollar, falling by 0.0943% to trade at KES 85.3958 to the dollar. Against the Sterling Pound the shilling depreciated by 0.471% to trade at KES 134.1424 per Sterling Pound. Against the Euro, it depreciated by 0.6075% to trade at KES 107.5728 to the Euro.

Against the regional currencies the shilling appreciated against all currencies under consideration other than the South African Rand where it depreciated by 0.8474% to trade at KES 10.2703 per Rand.

In today’s trading we will continue to observe the KES-USD trend and perhaps see whether the mopping up activities by the Central Bank are having any bearing of the exchange rate.

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