Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


Dollar demand pushes Shilling to the 103 mark

This shilling is currently trading at Sh103.25, the highest it has traded since the August 2015. FILE

NAIROBI, Kenya, Jan 4 – The Kenya Shilling got off to a rocky start on the second day of trading in 2017 hitting the Sh103 mark against the dollar.

This shilling is currently trading at Sh103.25, the highest it has traded since the August 2015.

Commercial Bank of Africa treasury department attributes the move to positive sentiments for the dollar that has continued to drive the dollar higher globally.

“Dollar demand continue to outway foreign currency supply with the number of corporate and interbank players taking stock of the lucrative greenback,” the department states.

CBA treasury projects the dollar will continue to remain strong owing to the US Federal Reserve decision to increase interest rates to a minimum 0.5 per cent from 0.25 per cent.

“Treasury bills and bonds in the united states market are also going up from 1.25 per cent to 2.7 per cent making the dollar very attractive,” the department added.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...