Kenya: Shilling Strengthens on the Back of Joint Kenyatta, Odinga Statement

President Uhuru Kenyatta with Nasa leader Raila Odinga (file photo).

Nairobi — The Kenya Shilling gained 10 cents against the US dollar to trade within the Sh101.00 to Sh101.30 range following the reading of the joint statement between President Uhuru Kenyatta and Opposition leader Raila Odinga.

Analysts at CBA Bank say they expect the market to react positively pushing the shilling in the right direction.

Prior to the announcement, the shilling had held its ground in early morning trading largely on the back of position re-alignment by interbank players.

The two leaders held a closed-door meeting for over two after which they to roll out a programme to work together to unite and develop the country.

They outlined ethnic competition, devolution, inclusivity, divisive elections, security and shared prosperity as among the key challenges that Kenyans need to tackle.

In September, shares and bonds plummeted while the currency fell after the country's Supreme Court overturned President Uhuru Kenyatta's August 8 election win.

See What Everyone is Watching

More From: Capital FM

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.