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05-Feb-2018<br />

Shilling To Hit 107 to the Dollar in 2018 – Cytonn<br />

Soko Directory<br />

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The Kenyan shilling is likely to range between 102.0 and 107.0 shillings against the US<br />

Dollar for 2018.<br />

In a report released by Cytonn Investments, the shilling’s resilience against the Dollar is just<br />

short-lived and Kenyans should brace for it slipping back.<br />

The Kenya Shilling appreciated by 1.0 percent against the USD during the month of January<br />

to close at 102.2 shillings from 103.2 shillings in December.<br />

The shilling also closed the week at 101.7 shillings against the Dollar supported by<br />

horticulture export earnings.<br />

On a year to date basis, the shilling appreciated against the dollar by 1.4 percent and<br />

according to Cytonn, the shilling should remain relatively stable against the dollar in the<br />

short term, supported by:<br />

The expected calm in the political front, following the conclusion of the presidential<br />

elections and the swearing in of the President, The weakening of the USD in the global<br />

markets, as indicated by the US Dollar Index, which has shed 9.9 percent in 2017 and 3.1<br />

percent year to date The CBK’s activity, as they have sufficient forex reserves, currently at<br />

USD 7.1 billion.<br />

Cytonn’s statement comes after Barclays Bank released another report indicating that the<br />

shilling will hit 106 shillings against the US Dollar.<br />

About Soko Directory Team<br />

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the<br />

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