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Rallying shilling raises hope for an end to economic crisis

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The shilling has strengthened against the dollar. [Elvis Ogina, Standard]

The shilling rallied to a new high on Thursday against the dollar, raising fresh hopes of an end to a currency crisis involving the steep decline in its value, which has been causing negative ripple effects throughout the economy.

It hit a new high against the dollar on Thursday, after Kenya booked billions from global investors to pay off an upcoming Eurobond signalling easing inflation and lowering the cost of imported goods.

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