Bloomberg News

Kenyan Shilling Snaps Two-Day Rally; Ugandan Shilling Advances

July 10, 2012

Kenya’s shilling weakened, snapping two days of gains.

The currency of East Africa’s largest economy depreciated as much as 0.5 percent and traded 0.3 percent lower at 83.97 by 3:30 p.m. in Nairobi. The shilling has strengthened 3.3 percent since May 30, according to data compiled by Bloomberg.

The Tanzanian shilling appreciated less than 0.1 percent at 1,589.50 per dollar.

Uganda’s shilling advanced the most in more than two weeks, adding 0.4 percent to 2,470.50 per dollar, the biggest gain since June 21.

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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