Kenya Shilling Declines for Third Week After Bank Cuts Rate
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Kenya’s shilling declined for a third week as the central bank slashed its benchmark interest rate more than expected.
The currency of East Africa’s biggest economy was unchanged at 86.70 per dollar as of 4:38 p.m. in Nairobi, leaving it down 0.5 percent in the week, the biggest retreat since the five days ended Nov. 23, according to data compiled by Bloomberg.