Kenya’s shilling has emerged as a top-performing currency globally, surpassing many counterparts, including the British Pound, according to a recent Bloomberg report.
Bloomberg’s research revealed that only 11 currencies outperformed the Sterling Pound in the first two months of 2024, with the Kenyan shilling showcasing robust performance.
The Kenyan shilling recorded significant gains against the US dollar, posting its most significant single-day appreciation in over a decade on February 14.
The report indicates that while researching the performance of the British Pound, Bloomberg found that the Pound was surpassed by only 11 other currencies globally during the specified period.
Following the buyback of the Eurobond loan that was due in June of this year, the Kenyan shilling embarked on an appreciation trend against the dollar.
Latest data from CBK shows that on March 11, the shilling traded at KSh 140.4357 against the US dollar and at KSh 180.4809 against the sterling Pound.