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Kenyan shilling strengthens with expected gains from tea sector FX inflows

Published August 5, 2024 Updated August 5, 2024 01:16pm
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By Reuters
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NAIROBI: Kenya’s shilling firmed slightly in early trade on Monday and it was expected to strengthen further, fuelled by dollar inflows from the tea sector, traders said.

Commercial banks quoted the shilling at 129.25/130.25 per dollar at 0728 GMT, an improvement from Friday’s closing rate of 129.50/130.50.

Kenyan shilling slips on manufacturing FX demand; S&P review in focus

Traders said the shilling was yet to react to Fitch’s sovereign rating downgrade on Friday.

Kenyan shilling Kenya shilling

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