Bloomberg News

Kenyan Shilling Strengthens for Third Trading Day Against Dollar

June 06, 2012

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


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