{"id":260,"date":"2024-02-14T08:04:03","date_gmt":"2024-02-14T08:04:03","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/02\/14\/kenyan-shilling-reverses-decline-against-global-currencies\/"},"modified":"2024-02-14T08:04:03","modified_gmt":"2024-02-14T08:04:03","slug":"kenyan-shilling-reverses-decline-against-global-currencies","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/kenyan-shilling-reverses-decline-against-global-currencies\/","title":{"rendered":"Kenyan Shilling Reverses Decline Against Global Currencies"},"content":{"rendered":"<p><strong>NAIROBI, Feb. 13 (Xinhua) \u2014 The Kenyan shilling has reversed a downward trend against major world currencies that had persisted for the last year, touching a new high against the U.S. dollar on Tuesday.<\/strong><\/p>\n<p>The Central Bank of Kenya placed the shilling at 158.6 to the dollar, a rise from a 30-year low of 161.<\/p>\n<p>The shilling has recorded and sustained gains since Feb. 8 and is expected to gain further in the coming days, according to the apex bank.<\/p>\n<p>Against the sterling pound, the shilling exchanged at a new high of 200.1 and the euro at 170.8 on Tuesday, said the bank.<\/p>\n<p>The local unit has also gained against East African currencies, rising against Tanzanian and Ugandan shillings.<\/p>\n<p>The strengthening of the shilling is attributed to an increase in forex reserves from 6.61 billion dollars at the end of 2023 to a new high of 7.13 billion dollars on Feb. 9.<\/p>\n<p>Kenya on Feb. 7 initiated the process to buy back its 2-billion-dollar Eurobonds, which matured in June, with inflows from the sale said to be flowing into the country, further raising the forex reserves and giving a buffer to the shilling.<\/p>","protected":false},"excerpt":{"rendered":"<p>NAIROBI, Feb. 13 (Xinhua) \u2014 The Kenyan shilling has reversed a downward trend against major world currencies that had persisted for the last year, touching a new high against the U.S. dollar on Tuesday. The Central Bank of Kenya placed the shilling at 158.6 to the dollar, a rise from a 30-year low of 161. [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-260","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=260"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/260\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}