Terrorists Sink Kenya’s Shilling on Tourism Concern: Currencies
This article is for subscribers only.
From trading restrictions to raising interest rates and selling dollars, Kenya has tried most everything to protect its currency to no avail.
The shilling slumped to 90.4 per dollar on Nov. 25, a level not seen since 2011, and is poised for a fifth straight annual decline. The chances of the currency tumbling to 100 in the next year have more than doubled in the past two months to 62 percent, options prices compiled by Bloomberg show.