The Kenyan shilling reached its strongest level against the dollar in over three years on March 7, 2019, according to traders, trading at 99.75/95 per dollar—its best performance since July 2015. Increased hard currency inflows and declining import demand supported the currency's ascent.
A commercial bank trader noted that the shilling's strength stems from unabsorbed currency inflows, while another trader highlighted reduced demand for dollars from importers, further supporting the currency's rise. Remittances from Kenyans abroad and tourism sector earnings also contributed to the strengthened currency.
