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Kenyan Central Bank Said to Warn Traders Over Shilling Decline

  • Currency is in the midst of longest losing streak since 2006
  • Cytonn sees shilling easing to 110 per dollar by year-end
Updated on

Kenya’s central bank warned bankers and traders against making comments or forecasts about the shilling that it deems too negative amid the currency’s worst run of losses since 2006, according to people familiar with the matter.

Executives from some of the country’s biggest lenders were summoned to meetings with policy makers last week, the people said, asking not to be identified because they aren’t authorized to speak about the issue. Others were telephoned individually and warned against making comments the regulator says are fueling the shilling’s decline, they said. Grace Okara, the central bank’s communications director, acknowledged by phone that she’d received an e-mailed request from Bloomberg for comment, without responding to the questions.