ROBERT ALAI praises RUTO after the Kenyan Shilling strengthened against the U.S.Dollar

Tuesday, February 13, 2024 - Kileleshwa Ward MCA, Robert Alai, has praised President William Ruto’s administration after the Kenyan Shilling strengthened against the U.S. Dollar on Tuesday.

The Shilling touched its highest level against the U.S. Dollar this year, extending its recovery from the series of record lows it hit in late 2023.

LSEG data showed the shilling bid at 155.50 to the dollar in Tuesday afternoon trade in Nairobi, a level at which it was last bid on Dec. 28.

Traders said the shilling has benefited from dollar inflows linked to the government's sale of an infrastructure bond and subdued importer demand in recent sessions.

The Central Bank Governor Kamau Thugge has been talking up the shilling, saying last week that the currency had overshot its equilibrium rate.

Reacting to the strengthening of the shilling, Alai praised President William Ruto’s administration

“I am happy to see the USD decline for the first time. Thanks Kenya Kwanza. If you do good, we will appreciate it. 

"Or they don’t even know how it’s declining? If you do wrong, we will call you out,” Alai wrote on X

The Kenyan DAILY POST