Central Bank of Kenya says it's devoted to flexible exchange rate

The currency has already weakened 1.5 percent against the dollar so far this year, mainly due to seasonal demand from importers and a firmer greenback globally.PHOTO: COURTESY

Central Bank of Kenya is committed to a flexible exchange rate regime and will not deviate from that policy despite the recent weakening of the shilling, according to Governor Patrick Njoroge.

Speaking to Reuters on the sidelines of the World Economic Forum in Davos on Thursday, Njoroge said he was not worried about the exchange rate of the Kenyan shilling.