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Kenya’s shilling gains as commercial banks cut dollar positions

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By Reuters

NAIROBI: Kenya’s shilling strengthened to a near 13-month high on Friday, helped by commercial banks shedding their long dollar positions, traders said.

At 0716 GMT, commercial banks quoted the shilling at 129.25/130.25 per dollar, compared with Thursday’s closing rate of 129.50/130.50.

Kenyan shilling reaches strongest this year at 129.50 per dollar

The last time the shilling was close to its present level was on March 13, 2023, when it was bid at 128.80 per dollar, LSEG date showed.

It is now up by 21% so far this year.

Kenya's shilling

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Razor Apr 07, 2024 05:46pm
Hold on to dollars and gold as in a few months after the borrowing of billions from world Bank imf and usa China wears off your see a different picture as you always input way more than export .
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