ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,229
10524hr
Pakistan Cases
710,829
531224hr
Sindh
267,970
Punjab
243,295
Balochistan
20,097
Islamabad
64,173
KPK
96,128
Markets

Kenyan shilling gains ground, helped by lacklustre dollar demand

The government has also announced a series of measures including tax cuts to cushion the economy from coronavirus.
27 Mar 2020
  • The government has also announced a series of measures including tax cuts to cushion the economy from coronavirus.
  • Kenya, which has 28 confirmed coronavirus cases and one death, will start enforcing a 7 p.m. to 5 a.m. curfew daily starting on Friday.

NAIROBI: The Kenyan shilling strengthened on Friday due to lack of dollar demand from merchandise importers and manufacturers, traders said.

At 0849 GMT, commercial banks quoted the shilling at 104.50/70 per dollar, compared with 105.00/20 at Thursday's close.

"This is just market correcting itself... those who wanted dollars have fulfilled their obligations," said a senior trader from one commercial bank.

Economic activity has slowed due to concerns over the spread of coronavirus and measures the government as taken to contain it like banning public gatherings, asking people to stay at home and suspending international passenger flights.

Tourism and horticulture, key foreign exchange earners, are already feeling the pinch from shutdowns resulting from the virus, as are factories that are facing difficulty importing raw materials.

The government has also announced a series of measures including tax cuts to cushion the economy from coronavirus.

Kenya, which has 28 confirmed coronavirus cases and one death, will start enforcing a 7 p.m. to 5 a.m. curfew daily starting on Friday.