Investors who had hoarded dollars ahead of the August 8 General Election have started selling them off.
Reports that the shilling has strengthened to a two-month high against the dollar is welcome news for investors who feared that the elections fallout would depress growth.
There are positive signs that despite a disputed presidential election that is now headed to the Supreme Court, the economy has been able to overcome the jitters.
Investors who had hoarded dollars ahead of the August 8 General Election have started selling them off.
This is after normalcy returned to the markets and the threat of post-poll violence eased after the electoral commission declared President Uhuru Kenyatta the winner.
Riots erupted in parts of Nairobi and Nyanza after the declaration, but the announcement by his main rival, Raila Odinga, that he would challenge the result in court helped calm the markets.
There are positive signs in the horizon after currency traders forecast that the shilling would further strengthen in the coming days. We opine that this is just what the economy needs after the tensions brought about by the political campaigns.
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Note: The results are not exact but very close to the actual.
