Kenya Shilling Suffers Slight Loss Against US Dollar on Rising USD Demand
==========
The Kenya shilling has experienced a decline against the US dollar at the start of the trading week. On April 15, the shilling opened at KSh 127.7 and closed the day at KSh 130.9, marking a significant drop in value within a single trading day. Despite minor fluctuations on April 16, the shilling continued to weaken, closing at KSh 131.6 by the end of the day. Forex bureaus in Nairobi are exchanging the dollar for KSh at 133 on April 17. The increased demand for US dollars is due to Kenya's import payments, which require more dollars from circulation. The US Federal Reserve's expected decision to hold rates higher for longer may strengthen the dollar further against the Kenya shilling. In related news, Zimbabwe's gold-backed currency, ZiG, has appreciated by 1.1% against the US dollar in its first trading week, replacing the old Zimbabwean dollar impacted by inflation.
#KenyaShilling #UsDollar #ForexMarket #Demand #ImportPayments #UsFederalReserve #ZimbabweGold #Zig #Currency
https://www.tuko.co.ke/business-economy/economy/545166-kenya-shilling-records-slight-loss-increased-demand-dollars-forex-markets/
Tuko.co.ke /
npub15yg…zncw
2024-04-17 12:38:10
Author Public Key
npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-04-17 12:38:10Event JSON
{
"id": "6167b5c2170e3d11dea762f048c9b2cc805e939eadf9daafc1790ec3417d99aa",
"pubkey": "a110dbf5c150463d1be2fe7924c1f7215112304813341954bd4de904d0075a70",
"created_at": 1713350290,
"kind": 1,
"tags": [],
"content": "Kenya Shilling Suffers Slight Loss Against US Dollar on Rising USD Demand\n==========\n\nThe Kenya shilling has experienced a decline against the US dollar at the start of the trading week. On April 15, the shilling opened at KSh 127.7 and closed the day at KSh 130.9, marking a significant drop in value within a single trading day. Despite minor fluctuations on April 16, the shilling continued to weaken, closing at KSh 131.6 by the end of the day. Forex bureaus in Nairobi are exchanging the dollar for KSh at 133 on April 17. The increased demand for US dollars is due to Kenya's import payments, which require more dollars from circulation. The US Federal Reserve's expected decision to hold rates higher for longer may strengthen the dollar further against the Kenya shilling. In related news, Zimbabwe's gold-backed currency, ZiG, has appreciated by 1.1% against the US dollar in its first trading week, replacing the old Zimbabwean dollar impacted by inflation.\n\n#KenyaShilling #UsDollar #ForexMarket #Demand #ImportPayments #UsFederalReserve #ZimbabweGold #Zig #Currency\n\nhttps://www.tuko.co.ke/business-economy/economy/545166-kenya-shilling-records-slight-loss-increased-demand-dollars-forex-markets/",
"sig": "4eb6981621df63d648fd4a28715aee21d6336a4984bc6ae1369ce3136d733aac120bbd648fa3427895077d7123cf1b4bbc9bf654b63a88618316259a48ba4590"
}