Kenyan Shilling, Naira Loses Against Seemingly Strong US Dollar Kenyan Shilling, Naira Loses Against Seemingly Strong US Dollar
The winds of change are now supporting the US dollar, as the American greenback has emerged victorious amid the recent brewing currency wars. The new currency contenders, including the Kenyan Shilling and Nigerian Naira , are losing their strength against the USD , tanking to new lows in the latest development. Also Read: US Dollar Hammers Chinese Yuan, Indian Rupee & Japanese Yen KSH and Naira Hit New Lows Against the USD Image Source: Watcher Guru The Kenyan shilling, which was outperforming the dollar in March and early April, has now taken a stark turn. KSH is currently being exchanged at 131.44 shillings, noting a significant low against the USD in recent times. “Data from the Central Bank of Kenya shows that one dollar was exchanging at 131.44 shillings by the end of last week, representing a fifth straight day of weakening for the local unit since April 11.” Additionally, the rise of KSH has been dubbed temporary. It has been referred to as a weak ...