Mar­kets re­silient af­ter Trump’s win, says Eq­uity boss

The Star (Kenya) - - News -

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.

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