World’s Best-Performing Currency Fails to Slow Kenyan Inflation
1 week, 1 day ago

World’s Best-Performing Currency Fails to Slow Kenyan Inflation

Live Mint  

-- Kenya’s annual inflation rate climbed for a second successive month in December as higher food and transport costs offset the effects of the shilling’s world-beating performance this year. Inflation remains at the lower end of the target range of 2.5% to 7.5% in which central bank Governor Kamau Thugge prefers to anchor price-growth expectations. Earlier this month, the bank slashed its benchmark interest rate for the third time in a row — lowering it to 11.25% from 12% — as muted inflation allows it to offer support to the East African economy. Price-growth has been subdued by the shilling, the world’s best-performing currency against the dollar this year after it gained about 21% against the greenback since the end of 2023.

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Why Look for Dollars When We Have Credit Facility in Indian Rupees, Says Kenyan President Ruto
1 year, 1 month ago

Why Look for Dollars When We Have Credit Facility in Indian Rupees, Says Kenyan President Ruto

News 18  

Why should Kenya be forced to trade in dollars with India and pay heavy exchange costs when it can be done in Indian rupees, Kenyan President William Ruto said in an exclusive interview with Firstpost, pitching for trade that is not dependent on one currency. “The conversation I was having yesterday with Prime Minister Modi is that even the facility …

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