Browsing: US Dollar vs Kenya Shilling

The slight dip by gold prices is related to strengthening of the U.S. dollar but it is not expected to stay down should new cases of coronavirus emerge. Photo/J.Rotbart&co

Gold producers and investors are happy after the mighty dollar having taken a dip owing to the resurgence of demand for gold and increasing gold prices around the world and the dollar value going down, for now.

In the most recent publication by FxStreet titled Gold Price Forecast, experts admitted that “…the US Dollar (USD) weakened, a tailwind for the yellow metal.”

However, if one thing we know about the dollar is that the green buck knows how to take punch. The dollar maybe down but it is not out as the report analysts point to the hovering market confidence in the dollar performance.

“The sentiment is upbeat, as shown by global equities trading in the green. As previously mentioned, market players are positioning for a possible Fed pivot, while economic data in the US continues to show further deterioration in the country, which, coupled with high inflation and lower …

Kenyan Shilling initial crack against major currencies since note change

The Kenya Shilling showed the first sign of loosing ground against major currencies since the Central Bank of Kenya introduced new notes and decided to recall the Ksh 1, 000 note in order to curb illicit flow.

Commercial banks have quoted the Shilling trading against the US dollar at Ksh 101.95/102.15 per dollar, compared with 101.80/102.00 at last week’s close. This weakening despite being marginal is the highest rate the currency has traded this year.

At the beginning of June, Central Bank of Kenya announced measures to introduce new currencies meeting a long overdue constitutional requirement to introduce new faces of the currency. In doing so, the CBK governor also announced that the Ksh 1,000 note in circulation was to be recalled and removed from the list of legal tender in Kenya due to illicit use in the country and the region.

Holders of the old 1000 note are …