Kenya shilling jumps to three-month high

A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Nairobi, April 20, 2016.

Exchange rate boost. The Kenyan shilling jumped to a three-month high against the dollar yesterday as investors from abroad sought local stocks and government bonds due to a reduction in political risk.

In morning trade, commercial banks quoted the shilling at 102.75/95 per dollar, its strongest since September 18, and up from 103.00/10 at Tuesday’s close.

President Uhuru Kenyatta was sworn in for a second term last month after a protracted election period.