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Shilling gains against the dollar

22 November 2011, 11:03

The shilling touched the Sh90 mark in Monday's trading against the dollar, its strongest performance since August 1 this year.

Forex traders on Monday quoted the shilling at 90.60/80 against the dollar stronger than Friday’s performance of 91.00/20.

This is a 15 per cent gain from the historic Sh107 mark it touched on October 11.

The gains are a shot in the arm for the Central Bank of Kenya which was forced to increase its key lending rate to its highest point ever to tame inflation, a decision that has been costly to short term economic growth.

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