Browsing: shilling

• The Kenyan shilling depreciated by 0.3 per cent against the US dollar between July 18 and 22, 2022, to close the week at KSh 118.6, from KSh 118.3 recorded the previous week
• Analysts from Cytonn Investments attributed the depreciation to increased dollar demand from the oil and energy sectors against a slower supply of hard currency
• On a year-to-date basis, the shilling has depreciated by 4.8% against the dollar, higher than the 3.6% depreciation recorded in 2021

The Kenyan shilling depreciated by 0.3 per cent against the US dollar between July 18 and 22, 2022, to close the week at KSh 118.6, from KSh 118.3 recorded the previous week.

Analysts from Cytonn Investments attributed the decline to increased dollar demand from the oil and energy sectors against a slower supply of hard currency.

On a year-to-date basis, the shilling has depreciated by 4.8% against the dollar, higher than the 3.6% …

The Tanzanian shilling has had an impressive first quarter stifling off the effects of coronavirus threat even amidst travel restrictions and slowed trade.

Up to the close of the quarter, the central bank of Tanzania, the Bank of Tanzania (BoT) said the Tanzanian shilling is strong and has ‘remained resilient against the dollar.’ This means trade, particularly import and export was stable as the value of the shilling muscled up against the dollar.

As matters would have it, by the end of February, the Tanzanian shilling was rather impressive trading at an average rate of Sh2,300.9 for every dollar, a commendable standoff compared to the Sh2,300 that was the trading rate against the dollar just a month before in January of this year.

Further still, despite the slowed trading owing to the coronavirus threat, the indicative foreign exchange market report released by the Bank of Tanzania (BoT) at the end …

The Tanzanian shilling is expected to hold steady against the United States dollar in the second quarter of 2019 due to increased inflows of the greenback from tourism,  agriculture exports and demand from corporate to meet the 2018 dividend obligations.

The National Microfinance Bank (NMB) Market Digest said in its report that the second quarter will witness increase of inflows from tourism and agriculture thus bolstering the local unit.

The report stated that with traditional inflows mostly from tourism and agriculture expected to increase by June, the local unit is to hold steady with minimal volatility as the central bank continues its liquidity management efforts to preserve calm market conditions.

Further, according to the report, the local currency ended the quarter strongly after trading weaker during the first two months of the year to appreciate by 2.1 per cent. The quarter opened at Tshs.2,300 per dollar, traded to a high …