Kenya: Kenya Shilling Defies Ratings Downgrade to Plough Back Against US Dollar

Kenya’s economic landscape has been a rollercoaster in recent months, with the shilling’s performance reflecting the broader fiscal challenges facing the nation.

Despite the grim outlook from international credit rating agencies, the Kenyan shilling made a surprising recovery this week, ending at Ksh129.15 per US dollar, a notable improvement from Ksh132.22 the previous week.

The Central Bank of Kenya (CBK) highlighted this rebound, stating, “The Kenya Shilling strengthened against major…