Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kenya’s Shilling Retreats as Dollar Strengthens Against Euro

Dec. 6 (Bloomberg) -- Kenya’s shilling weakened for the first day in three against the dollar as the U.S. currency “recovered” on international markets, said Bethuel Karanja, head of trading at CFC Stanbic Bank Ltd.

The currency of East Africa’s biggest economy depreciated as much as 0.1 percent to 80.45 per dollar, where it was trading at 1:08 p.m. in Nairobi. The shilling closed at 80.35 on Dec. 3.

“After the payroll numbers were released it made the dollar weaker across the board, but it is starting to recover a bit,” Karanja said in a phone interview today.

The dollar advanced against 13 of its 16 major counterparts after Federal Reserve Chairman Ben S. Bernanke said a return to a recession in the U.S. “doesn’t seem likely.” The U.S. currency snapped a three-day decline against the euro, appreciating as much as 0.9 percent to 1.3292 per euro. It closed at 1.3414 in New York on Dec. 3.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.