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Central Bank of Kenya Governor Patrick Njoroge on Monday said unnamed rogue elements in the currency market and some commercial banks had contributed to the recent weakening of the shilling against the dollar.
Dr Njoroge likened their scheme to Kenya's biggest corruption scandal, the "Goldenberg" affair, in which billions of shillings of public funds were stolen in a bogus gold and diamond export scheme.
He made the comments, during an induction briefing with newly elected members of Parliament while explaining why the foreign exchange market has recently experienced some volatility.
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