Why the Kenyan Shilling Is Holding Strong Against the Dollar

The shilling traded at Ksh129.28 to the US dollar as of Friday last week...

✨ Key Highlights

The Kenyan Shilling has shown notable resilience against the US dollar, trading at Ksh129.28 as of last week, amidst challenges facing many emerging market currencies.

Ksh56.93 billion in remittances from Kenyans abroad were sent home in May, contributing to a cumulative amount of Ksh650.72 billion in the past year.
The Central Bank of Kenya (CBK) plays a crucial role in stabilizing the currency through active management of foreign exchange reserves.
Kenya's strong export performance and increased government securities investments have further supported the shilling.

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