NAIROBI, Sept 29 – Kenya formed a team of key officials on Thursday to halt the slide in the shilling and will unveil new measures early next week, the latest move to try and restore confidence in the east African country’s ailing currency.
NAIROBI, Sept 8 – Kenya’s shilling is likely to firm next week after a robust response from government to try to stem its downward spiral, while its Ugandan counterpart may also be bottoming out of a long slump as soaring bond yields attract foreign buyers.
NAIROBI, Aug 30 – Kenya’s central bank has managed to cool sky-high money market interest rates with its latest policy adjustment, but analysts say it still faces a struggle to restore market confidence and stem weakness of the Kenyan shilling.
NAIROBI, June 2 – Kenya’s shilling may fall to a lifetime low against the dollar next week due to continued central bank buying of dollars and euros, while Ghana’s cedi may benefit from foreign interest in its high-yielding debt.
NAIROBI, June 2 – Kenya’s shilling slipped against the dollar on Thursday after the country’s central bank bought $4 million, but traders said commercial banks would likely cut long dollar positions, providing upside for the local currency.
NAIROBI, May 26 – Kenya’s shilling is likely to strengthen next week away from record lows against the dollar, while foreign investor interest in a debt issue in neighbouring Uganda should also help to boost the currency there.
NAIROBI, May 27 – The Kenyan shilling weakened against the dollar on Friday after the central bank said it was in the market to buy 4 million euros to build up foreign currency reserves.
The Kenyan shilling gained almost one percent against the dollar on Thursday as banks shed long dollar positions after the central bank said it was not seeking to weaken the shilling by buying hard currency.