The shilling has today fallen back to exchange at Ksh 84.03 to the U.S. dollar, after exchanging in the range of 83 shillings since Tuesday this week, latest data from the Central Bank of Kenya shows. Today’s exchange rate is 0.12 percent higher than yesterday’s of 83.93.
The 10 cent depreciation of the local currency is because of the energy sector’s U.S. dollar demand to import oil and power, a report by Reuters says. Tomorrow, the Energy Regulatory Commission is expected to review fuel prices which could affect the earnings of fuel importers depending on whether the prices go up or come down.
Against the Euro, the shilling is today 0.20 percent stronger exchanging at Ksh 102.53 from Ksh 102.7312 yesterday while the shilling’s biggest improvement is against the Sterling Pound where the local currency has improved 0.26 percent to exchange at Ksh 129.69 from Ksh 130.0354 yesterday.
Pesatalk will continue to keep you updated on the latest fluctuations of the Kenya Shilling when they happen.