The Chilean Peso And The Kenyan Shilling
Posted March 21, 2010
Here for a change we thought we would look at two currencies we have never really featured before. These are not major currencies but they still provide a good picture to watch when we take note of the rates on the currency converter.
So what happened to them in February?
At the end of the first trading day of the month the Chilean peso was claiming 0.1435 Kenyan shillings. It reached a high for the week the following day of 0.1440, before dropping to a low of 0.1397 on the 4th. It then ended the week on 0.1418.
The second week was a better one for the Chilean peso as it climbed back up to 0.1424 by the end of Monday evening. This wasn’t going to be a one way ride though, because the peso fell to 0.1416 by the time Tuesday was done with. Could anyone predict which way things would go next?
As it turned out the Kenyan shilling would have nothing to fight back with for the remainder of that week. This was because the Chilean peso added on some value every single remaining day that was left to it. This resulted in the peso climbing to a high of 0.1454 by Friday night, giving us plenty to think about as the weekend began. Could the peso continue in this form or would the Kenyan shilling have something to say about it?
For the first couple of days during the early part of the next week the peso seemed to be completely in charge. The first rate was 0.1459, and the following day it had climbed further to 0.1473. But then everything started to tip in favor of the Kenyan shilling. By Wednesday night the rate had turned around to 0.1466 and by the end of the next day it had reduced further to 0.1441. The Chilean peso did at least manage to improve slightly by the end of the week, although by slightly we really do mean just that. The final rate here was 0.1442.
So we had one final week to go for the month of February. The first effort went in favor of the peso once again, as it improved its rate to 0.1448 by Monday evening. Tuesday saw it creep up a little more to 0.1456 and then we saw a similar changing of fate as we had seen the previous week. The Kenyan shilling showed some mettle and pushed it down to 0.1436, before going one better and reducing it to 0.1423 the next day.
But there was still one day of trading left to go, and you can never tell what the final rate for the month will be until you actually reach that point. And in this case the Chilean peso had one more trick up its sleeve. This enabled it to reach the heights of 0.1450 as the month came to an end, and it pushed the Kenyan shilling further than it had done before.