Kenya: Kenyan Shilling Strengthens Against US Dollar on Foreign Currency Inflow From Tea & Tourism

The Kenyan Shilling on Wednesday strengthened marginally against the United States Dollar despite fears of a potential weakening due to political tensions in the country.

The local currency’s stability was attributed to an increase in the foreign currency inflow, particularly from diaspora remittance by Kenyans living abroad and tea exports.

Another reason for the Kenyan Shilling’s stability was due to a surge in tourists arriving in the country. An increase in tourists led to a hike in…