Kenyan Shilling Soars To 5-day High Against Dollar
July 01 2009 - 11:08AM
RTTF2
Wednesday during early deals, the Kenyan shilling rose to a
5-day high of 76.25 against the dollar after a report showed that
Kenya's consumer price inflation slowed in June.
The Kenya National Bureau of Statistics announced that the
consumer price index or CPI rose 17.8% year-over-year in June,
slower than the 19.5% growth in the previous month.
The underlying inflation rate which excludes food prices,
increased to 9.9% in June from 7% in May.
If the Kenyan currency advances further, it may likely target
the 75.90 level. At yesterday's close, the dollar-shilling pair was
worth 76.45.
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