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Findings by the International Monetary Fund that the Kenyan shilling is overvalued has elicited varied reactions from the market.
The Central Bank of Kenya (CBK) yesterday played down IMF’s assertion, terming it “suggestive”, even as it expressed worries on how the market would react to the same. “The Central Bank of Kenya notes the recently published IMF Article IV report on Kenya and its suggestion of the relative weakness of the external position vis-à-vis the fundamentals,” said the regulator in a statement.
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