• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Kenya shillings bucks trend with gains on the US dollar

samrack by samrack
July 7, 2018
in Africa, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Kenya shillings bucks trend with gains on the US dollar
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
US dollars and Kenya shilling at a forex bureau in Nairobi. FILE PHOTO | NMG 

Kenya shillings bucks trend with gains on the US dollar

The Kenya shilling is the only one amongst major frontier and emerging markets currencies that appreciated in the first half of the year, a Citigroup analysis shows.

The local unit gained two per cent while the other currencies depreciated or remained at nearly the same level – for Argentina and Oman. The appreciation was in line with improvement on Kenya’s current account deficit as well as the overall balance of payments position.

Analysts have identified the major causes of the improvement in the shilling’s value – and hence the deficit and balance of payment positions – as linked to the sharp rise in remittances and the crediting of Sh200 billion ($2 billion) into Kenya government accounts following the conclusion of a new Eurobond.

“Aside from the Argentine peso, many other frontiers and emerging currencies have weakened versus the US dollar during the year (exception: Kenya shilling, which strengthened two per cent year to date). This resulted in some modest currency losses,” said Citi.

Kenya’s overall balance of payment surplus nearly tripled in the first three months of the year to Sh206.9 billion from Sh54.21 billion in the previous quarter as the financial account benefited from the Eurobond raised in March.

The losses were bigger for emerging markets where the currencies weakened by 3.8 percentage points than for the frontier ones where the units weakened by 0.65 percentage points.

Tags: Kenya shillings bucks trend with gains on the US dollar
Previous Post

Kenya to Host World’s Biggest Coffee Forum Next Year

Next Post

Nakuru students win Young Scientists expo with their online power monitoring system

Related Posts

DP Ruto picks Rigathi Gachagua as his running mate
Kenya

DP Ruto picks Rigathi Gachagua as his running mate

May 15, 2022
Muteshi Land Grabbing Case Haunts Ruto
Business

Muteshi Land Grabbing Case Haunts Ruto

May 13, 2022
Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance
Diaspora

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

May 13, 2022
Five Reasons Why Real Estate Increases in Value
Business

Five Reasons Why Real Estate Increases in Value

May 13, 2022
Kenya:9,484 children were defiled last year— Health ministry
Health

Kenya:9,484 children were defiled last year— Health ministry

May 13, 2022
Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia
Diaspora

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

May 12, 2022
Next Post
Nakuru students win Young Scientists expo with their online power monitoring system

Nakuru students win Young Scientists expo with their online power monitoring system

Please login to join discussion
Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply.
ADVERTISEMENT
ADVERTISEMENT

Latest News

DP Ruto picks Rigathi Gachagua as his running mate

Muteshi Land Grabbing Case Haunts Ruto

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

Five Reasons Why Real Estate Increases in Value

Kenya:9,484 children were defiled last year— Health ministry

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

Kenyan Nurse Wins Sh29 Million Global Nursing Award in Dubai

Russia Questions US-Funded Biolab in Kenya

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

Canada Issues Travel Advisory to Its Citizens in Kenya

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

by samrack
May 11, 2022
0

GOVERNOR MUTUA'S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!   Governor Alfred Mutua’s...

You are free to use Nairobi expressway from next Saturday – Uhuru

You are free to use Nairobi expressway from next Saturday – Uhuru

by samrack
May 8, 2022
0

You are free to use Nairobi expressway from next Saturday - Uhuru Other than the ban on photography, skaters, pedestrians,...

  • About Us
  • Archives
  • SWG Registration

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 0.782 seconds. Stats plugin by www.blog.ca