The Kenya shilling has extended its gains against the US dollar after months of losing value.
As at February 14, 2024, the Central Bank of Kenya was officially quoting the shilling at 156.7076 against the US dollar.
The recovery was also reflected in the exchange rates that were quoted by forex bureaus.
For instance, Satellite Forex Bureau was quoting the US dollar at 155 buying and 152 selling.
On Monday, February 12, the Central Bank of Kenya officially quoted the Kenya shilling at 159.5596 against the US dollar. This implies a gain of Sh. 3 against the dollar in about three days.
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Among forex bureaus, Pacific Forex Bureau was buying at 157 and selling at 162 before retreating to sell at 159.5.
Satellite Forex Bureau on the other hand was selling USD at 160.