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Kenyan shilling strengthens slightly, could weaken ahead of US election

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By Reuters

NAIROBI: The Kenyan shilling strengthened slightly against the dollar on Wednesday, bolstered by foreign currency inflows from remittances and the tea and tourism sectors, one trader said.

The shilling traded at 128.50/129.50 the dollar at 0720 GMT, LSEG data showed, compared to Tuesday’s closing rate of 129.05/130.05.

Kenyan shilling stable, supported by aid agency FX sales

The shilling could weaken in the next week, however, as the dollar strengthens globally ahead of the US election, the trader said.

Kenyan shilling

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