Kenya’s currency strengthened to a nine-month high against the dollar buoyed by inflows from the International Monetary Fund and foreign investors chasing yields from a tax-free infrastructure bond auctioned last week.
The shilling added 0.2% to 106.91 by 2:15 p.m. in the capital, Nairobi, the highest level since July, according to data compiled by Bloomberg. It has gained 1% year to date.
