Kenya's forex market: Shilling hits another high in comeback against US dollar
==========
The Kenya shilling has shown resilience, maintaining a positive trend against the US dollar throughout May after reversing a previous weakening trend. Significant gains were reported in the forex market towards the end of April. Joan Ogara, a forex market and finance expert, attributes the shilling’s recent strength to a complex interplay of market dynamics, including speculative activities and fundamental economic factors. The shilling hit above KSh 135 and KSh 139 in the previous week. On Monday, May 6, the shilling started the week on a strong note, with exchange rates at around KSh 131. The Satelite Forex Bureau speculated that the Kenyan shilling was the best-performing currency. Market speculators believe that if the Eurobond is the only factor behind the shillings' appreciation, then these gains will remain temporary. The true value of the Kenya shilling lies between the current exchange rate and the historic low of KSh 160, according to the CEO of NCBA, John Gachora.
#KenyaForexMarket #KenyaShilling #UsDollar #ForexMarket #CurrencyExchange #Economy
https://www.tuko.co.ke/business-economy/economy/547569-kenya-shilling-hits-time-high-dollar-fresh-appreciation-rally/
Tuko.co.ke /
npub15yg…zncw
2024-05-08 16:15:11
Author Public Key
npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-05-08 16:15:11Event JSON
{
"id": "7b6b8ee40ee40516cc6d26c5060f58e4d57f7e9a8691879c25700f2b07965088",
"pubkey": "a110dbf5c150463d1be2fe7924c1f7215112304813341954bd4de904d0075a70",
"created_at": 1715177711,
"kind": 1,
"tags": [],
"content": "Kenya's forex market: Shilling hits another high in comeback against US dollar\n==========\n\nThe Kenya shilling has shown resilience, maintaining a positive trend against the US dollar throughout May after reversing a previous weakening trend. Significant gains were reported in the forex market towards the end of April. Joan Ogara, a forex market and finance expert, attributes the shilling’s recent strength to a complex interplay of market dynamics, including speculative activities and fundamental economic factors. The shilling hit above KSh 135 and KSh 139 in the previous week. On Monday, May 6, the shilling started the week on a strong note, with exchange rates at around KSh 131. The Satelite Forex Bureau speculated that the Kenyan shilling was the best-performing currency. Market speculators believe that if the Eurobond is the only factor behind the shillings' appreciation, then these gains will remain temporary. The true value of the Kenya shilling lies between the current exchange rate and the historic low of KSh 160, according to the CEO of NCBA, John Gachora.\n\n#KenyaForexMarket #KenyaShilling #UsDollar #ForexMarket #CurrencyExchange #Economy\n\nhttps://www.tuko.co.ke/business-economy/economy/547569-kenya-shilling-hits-time-high-dollar-fresh-appreciation-rally/",
"sig": "cda00498204b14bbc6500c6cd04256becc05b47219cc69615c6843c418412b18ecd3291c87d045ffccd240c42b638bdc191920c6b974bf2451222f690089520d"
}