Bankers Explain Gains In Kenya Shilling Against Other Currencies.
The Kenya Association of Bankers (KBA) has attributed the recent gain recorded by the Kenyan Shilling against other currencies to the successful floatation and pricing of the Ksh212.3 billion ($1.5 Eurobond) maturing in 2031 that Kenya sold last week.
According to KBA, the Eurobond contributed by increasing the foreign exchange reserves within the economy a move which has served to strengthen the Shilling. The development serves as an indicator of investors’ confidence in Kenya’s economy.
Further, KBA stated that another factor that contributed to the growth of the Kenyan shilling against the Dollar was the successful sale of an infrastructure bond.
