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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