Kenya Shilling Regains as Elections Violence Ceases

Kenyans demonstrating. Presidential election results were announced this afternoon. Stability in the country allowed the Kenya Shilling to gain bargaining power

The Kenya shilling (KES) today regained its bargaining power on the local exchange market after having suffered a drop last week due to election violence.

As candidate Uhuru Kenyatta continues to lead in the repeat elections, the Kenya shilling moved from 8.0102 to 8.0226 (buying) and from 8.1704 to 8.1831 (selling) against the Rwandan franc today compared to last week Friday.

The Uganda shilling (UGX) however maintained its stability remaining at 0.2279 and 0.2325 buying and selling respectively against the local franc.

In the meantime, both RSI and ALSI went down 1.65 and 0.23 points to close at 127.61 and 132.38 respectively with Kenyan listed companies having steady trading while the Bralirwa (BLR) took the only drop in shares as only a few equities changed hands while the bonds market was quiet.

Bralirwa counter closed at Rwf 135(Rwf 140 previous). The trading session recorded a total turnover of Rwf40, 500 from 300 shares in 1 deal.

Crystal telecom (CTL) counter closed at Rwf 69(Rwf 69 previous). The trading session recorded a total turnover of Frw 138,000 from 2,000 shares in 1 deal.

The equities counters closed as follows: I&M Bank (IMR): Rwf 96; Bank of Kigali (BK): Rwf 285; Equity group (EQTY): Rwf 350; Nationa Media Group (NMG): Rwf 1200; Kenya Commercial Bank (KCB): Rwf 340; and Uchumi supermarket (USL): Rwf 104.

At the end of the formal trading hours, on BK counter there were outstanding offers of 81, 900 shares at Rwf 285 and no bids. On BLR counter there was an outstanding offer of 600 shares at Rwf 140 and no bids.

On CTL counter, there were outstanding offers of 476,100 shares between Rwf 68-73 and no bids .On IMR counter, there were outstanding offers of 2,380,300 shares between Rwf 96-100 and an outstanding bid of 200,000 shares at Rwf 95.

On Equity counter there was an outstanding bid of 4,600 shares at Rwf 350 and no offers.




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