Kenya: CBK Forecasts Continued Kenyan Shilling Stability Against U.S. Dollar in New Outlook

The Central Bank of Kenya (CBK) has projected continued stability for the Kenya Shilling against the U.S. Dollar, citing tightly controlled interbank lending rates as of this month.

The dollar currently trades at Ksh129.41, a rate that the CBK says reflects growing confidence in Kenya’s monetary framework.

At the heart of this stability is the Kenya Shilling Overnight Interbank Average (KESONIA), which now balances the Central Bank Rate (CBR) at exactly 8.75 per cent, according to CBK…