Search

Kenya to Use World Bank Loan to Settle Eurobond, Stabilising Shilling

  • Trades at 130 units to the dollar following the Eurobond repayment announcement
  • Despite gains, analysts warn of continued currency volatility

 

Nairobi, Kenya – The Kenyan shilling eased off pressure to trade at 130 units to the dollar on June 7, following news that Kenya would settle the outstanding balance of Sh65.3 billion ($500 million) from its debut Eurobond, maturing on June 24, with part of the proceeds from a loan from the World Bank.

You need an active subscription to continue reading this article.

Recent Business

Cellphone with webpage of African bank Ecobank Transnational Inc. on screen in front of business logo. Focus on center of phone display
Ecobank Partners With XTransfer to Enable African Businesses to Pay for Chinese Imports in Local Currency
Read More »
breaking_news
Egypt Secures $100 Million Islamic Bank Financing to Boost Private Sector Growth
Read More »
breaking_news
Ghana’s Inflation Declines for First Time in Five Months
Read More »

Recent Politics

generic-1-1024x683
Ghana Names Asiamah as Central Bank Governor as Addison Retires
Read More »
breaking_news
ECOWAS to Maintain Trade Ties with Burkina Faso, Mali, and Niger
Read More »
Ethiopia, Tigray Valley, day life
Cash Withdrawals Surge in Tigray Amid Instability Fears
Read More »

Latest Posts

Latest news insights