Markets resilient after Trump’s win, says Equity boss
GEORGE MURAGE/ The stability in the domestic market is not likely to be eroded by the surprise win of Donald Trump as US president unlike most international markets which experienced fluctuations.
Equity Group CEO James Mwangi (pictured) said the shilling remained stronger against the dollar contrary to reports it could be weakened by a Trump presidency. “The shilling was stable at Sh101 against the dollar and the Nairobi Securities Exchange gained with Equity Bank gaining Sh0.75,” he said.
The Kenyan shilling was steady against the dollar yesterday in slow trade, with traders saying the Central Bank officials were in regular touch with dealers to show support, if needed, given uncertainty in global markets, Reuters reported.
At 11.16 am, commercial banks quoted the shilling at 101.70/80 against the dollar, the same as Wednesday’s close.