Kenya shilling remains resilient despite terrorist attacks

NAIROBI, KENYA: The Kenya Shilling continues to exhibit noteworthy resilience despite the recent terror attacks, which have toppled the Interior minister and the Inspector General of Police.

“The Shilling can be described as the ‘Teflon’ Shilling. Whilst just over 5 per cent lower year-to-date versus the dollar, the Shilling is at scratch for the year.  It has seriously outperformed its African peers and interestingly is outperforming petro currencies like the Naira and the Kwanza, which is a signal that traders appreciate the sharply reduced monthly hard currency oil Bill is going to give relief,” said Aly Khan Satchu, an independent analyst.