Bloomberg News

Kenyan Shilling Heads for the Longest Losing Streak in 9 Months

May 15, 2012

Kenya’s shilling slumped for the sixth day, poised for its longest losing streak in nine months.

The currency of East Africa’s biggest economy depreciated as much as 1.1 percent and traded down 0.7 percent at 84.25 by 2:32 p.m in Nairobi. A close at that level would be the biggest six-day loss since August.

Tanzania’s shilling gained for the first day in three, increasing 0.2 percent to 1,579 per dollar, while the Ugandan shilling retreated 0.8 percent to 2,485 per dollar.

To contact the reporter on this story: Johnstone Ole Turana in Nairobi at jturana@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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