Kenya: Kenyan Shilling Strengthens as Kenya Eyes Relief from US Rate Cut

The Kenyan Shilling gained ground on Wednesday buoyed by foreign exchange inflows from tea exporters that slightly outweighed the usual end-of-month demand from the manufacturing sector.

This modest appreciation comes as the shilling shows resilience despite the economic headwinds thanks in part to the anticipated interest rate cut by the US Federal Reserve, which has injected a sense of optimism into the market.

Kenya, much like other frontier and emerging markets, has been grappling with…