On Tuesday, the local bourse didn’t look any good on share trading as Bralirwa took the biggest single punch on its share despite sustaining a stable trading through this month.
Both the Rwanda stock and all shares indices went down 0.66 and 0.09 points to close at 131.47 and 132.92 respectively.
Bralirwa counter dropped by Rwf2 on its shares to close books at Rwf143 (from Rwf145 previously) while Bank of Kigali retained its stability to trade steadily at Rwf295 for two straight sessions since the start of the week.
Bralirwa is Rwanda leading lemonade company and among the four local listed companies out of eight entities trading on the Rwanda Stock Exchange (RSE).
In the meantime, the British pound (GBP) dropped by four francs in its bargaining power on the local market despite putting on substantial change on its exchange rate to the local franc.
The pound faced a drastic drop in selling and slightly shake in its power as the previous day and bought at Rwf1174.99 compared to Rwf1179.34 in the same duration.
Yesterday, the dollar maintained a stable exchange rate.
Today the British currency sold at Rwf1198.48 Compared to Rwf1202.92 the
GBP leveraged its exchange rate increment on the improving global market trends which saw the pound overrun the US Dollar on international exchanges especially in London.
However Rwanda is already bracing itself for the forex turbulences which are expected to disrupt bridging the export and import gap in this year’s trade balance.