Shilling rallies to six-month high on CBK intervention

Kenya and US currencies

CBK interventions in the exchange rate have helped keep the local currency in a tight band between the Sh129 and Sh130 mark for the past six months.

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The Kenyan shilling has rallied to a six-month high on interventions by the Central Bank of Kenya (CBK), which has stepped in to rein in the recent depreciation trend.

According to sources who spoke to this publication on condition of anonymity, the apex bank sold dollars to the market last week, easing demand for the greenback from import traders who increased their orders at the end of February.

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