Kenya Shilling Pushes Up to Fresh 9 Month high against the Dollar

The Kenyan Shilling continued its strong performance and touched a fresh nine month high against the US dollar in morning trade on Wednesday, on surging dollar inflows.

At 1155 GMT, the shilling was spotted at Sh 102.860, its highest level since 13th March 2017. The KES opened at 103.75/103.95 to the dollar, against Tuesday’s closing of 103.00/10 a dollar.

The shilling has been on upward trend since a few weeks, mainly because of higher foreign portfolio inflows into the equity and bond market in view of a reduction in political risk and improved improved economic indicators.