BLBG:Kenyan Shilling Strengthens For Third Trading Day Against Dollar
Kenya’s shilling extended its gains for a third day against the dollar after the country’s central bank left its policy rate unchanged at a record high.
The currency of East Africa’s largest economy climbed 0.4 percent to 85.45 a dollar by 9:31 a.m. in the capital, Nairobi, bringing its gain so far this week to 0.8 percent, according to data compiled by Bloomberg.
The Nairobi-based Central Bank of Kenya yesterday left its benchmark interest rate at 18 percent for the sixth meeting in a row to help support the currency and curb inflation.
Uganda’s currency gained for the second day, increasing 0.1 percent to 2,487.50 a dollar, while Tanzania’s shilling declined less than 0.1 percent to 1,588.50.
To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net
To contact the editor responsible for this story: Sarah McGregor at smcgregor5@bloomberg.net
