Importers Catch a Break as Kenya Shilling Extends Winning Streak
- Kenya’s January to November imports valued at $1.61 billion
- About 67% of East African nation’s external debt is in dollars
The Kenyan shilling strengthened against the dollar for a fifth consecutive trading day on Thursday, its longest streak of five-day gains since December 2020.
The shilling has so far recouped 1.8% against the dollar during the winning streak as the country continues borrowing from development banks. The Central Bank of Kenya offered five billion shillings of seven-day reverse repurchase agreements on Thursday, boosting interbank liquidity.