Kenya’s Shilling Near Four-Year Low as Flower, Tea Exports Slip
- Earnings from tea, flowers, vegetables and tourism declining
- Lower exports add to shilling’s woes as strong dollar weighs
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Kenya’s shilling fell to the weakest level against the dollar in almost four years amid a decline in earnings from key exports including flowers and tea.
The currency of East Africa’s largest economy dropped 0.2% to 104.07 shillings per dollar by 12:40 p.m. in the capital, Nairobi, on track for the lowest level since October 2015. It’s set for a fifth straight monthly decline.