Kenya shilling gains strength following peace agreement
APA-Nairobi (Kenya)
The Kenya shilling has started gaining strength against the dollar and other major international currencies barely after a week when a power sharing agreement between President Mwai Kibaki and opposition leader Raila Odinga was signed, APA observes here.
The Kenya shilling which had tumbled to a worst low of 72 shillings against the dollar two weeks ago from a high of 64 shillings, at the eve of the disputed December 27 general elections appeared to be resilient on Monday, registering 67.90 shillings against the dollar according to major banks in Nairobi.
Meanwhile, inflationary pressures continued to go up with the annual February figures now at 19.1 per cent, compared to January’s 18.2 per cent, a shift analysts blamed on post poll violence, statistics released on Monday in Nairobi by the Kenya National Bureau of Statistics revealed.