Kenyan Shilling Strengthens Against the Dollar, Hits Ksh 108

David Indeje is Khusoko’s Digital Editor, covering East African markets.
A sample of the Kenyan currency in note form and shilling or coins

Kenyan shilling strengthened against the US dollar closing at  KSh 108.79 per US Dollar on December 24, compared to KSh 111.59 on December 17.

The Central Bank of Kenya (CBK) in its weekly bulletin said this was attributed to inflows in various sectors of the economy.

The Kenyan currency has remained relatively stable supported by the improving diaspora remittance of which the cumulative inflows in the 12 months to November totalled USD 3,045 million compared to USD 2,790 million in the 12 months to November 2019.

High levels of forex reserves, currently at USD 7,788 million (4.78 months of import cover) as at December 24.

David Indeje is Khusoko’s Digital Editor, covering East African markets.

In my role as Community Engagement Editor For Khusoko, I care about our audience. engaging them, getting news delivered to them across a variety of platforms, and expanding the diversity of voices on our website.

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