Shilling firms to 102 as investors sell off dollar
11 days ago, 14:11
The shilling gained below the psychological 103 mark against the dollar for the first time since mid-September as foreign investors bought local assets and commercial banks sold the green back after calm returned to markets after two months of electioneering.
“We have good dollar supply from foreign investors and banks unwinding dollar positions,” a foreign exchange trader at one commercial bank said.
It last touched this level on September 15, according to Central Bank of Kenya data.
Category: business news