Kenya Shilling Drops From 2-Week High as Businesses Buy Dollars
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Kenya’s shilling declined, retreating from a two-week high as businesses took advantage of the currency’s gains to buy dollars.
The currency of East Africa’s largest economy depreciated as much as 0.8 percent to 84.25 a dollar and was trading 0.3 percent lower at 83.85 by 5:12 p.m. in Nairobi, the capital. The shilling reached 83.60 yesterday, the strongest since July 30.