Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Shilling slips after Mpeketoni attack

16 June 2014, 12:16

Nairobi - The Kenyan shilling edged down against the dollar on Monday after gunmen killed 48 people in an attack on the coastal town of Mpeketoni.


Commercial banks posted the shilling at 87.95/88.05 early in the session, before it took back those losses to trade at 87.85/95, where it had closed on Friday.


"There was a knee-jerk reaction to what I think is the Mpeketoni attack," said Chris Muiga, a trader at National Bank.


The assault at Mpeketoni was the latest in a string of gun and bomb attacks that have hurt Kenya's vital tourist business and which have been blamed on Somalia's al Shabaab militant group. Western nations have issued travel warnings in the wake of the assaults.


Traders said the shilling was likely to remain trapped in a range of 87.50-88.20 per dollar over the next few days, pending news that could offer it a clear direction.


Such news could come from information on the level of demand the country will get from its debut Eurobond for $1.5 billion, which is being marketed abroad, traders said.


- Reuters



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Wilson Ochieng
ODM MP chased down by angry Kibra...

Kibra MP Ken Okoth had a hard time in his constituency after angry youth pelted him with stones. Read more...

Submitted by
Wilson Ochieng
Prepare for DP Ruto fight in 2022...

An MP has warned that the Kalenjin Community will not stand back and watch as DP Ruto is duped ahead of the 2022 polls. Read more...

Submitted by
William Korir
Be careful who you deal with, DP ...

Watch out for your political future, DP William Ruto has been warned. Read more...

Submitted by
William Korir
Kikuyu 2022 vote will go to Peter...

The 2022 Kikuyu vote will go to Peter Kenneth, a Rift Valley Governor has warned DP William Ruto. Read more...

Submitted by
William Korir
CORD threatens to boycott 2017 po...

The CORD Coalition says that it will be forced to boycott the 2017 elections if there is no new voter register in place by the time. Read more...

Submitted by
Wilson Ochieng
Disgraced Jeptoo stripped of 2014...

Organizers of the Boston Marathon are stripping Kenyan runner Rita Jeptoo of her 2014 victory as part of the athlete's newly extended doping ban. Read more...