Kenyan Shilling Regains From 4-day Low Versus Greenback
July 27 2009 - 10:36AM
RTTF2
The Kenyan currency traded lower to a 4-day low of 76.9000
versus the US dollar at about 8:10 am ET Monday. Thereafter, the
shilling reversed its direction against the greenback and presently
trading at 76.50.
Monday, Kenya's central bank said the economy is expected to
grow 3% this year.
The economy grew 1.7% in 2008, down from 7.1% growth in
2007.
In July, the central bank cut its key interest rate for the
fourth time since December. The prime rate was lowered to 7.75% and
the cash reserve ratio brought to 4.5% from 5%.
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