- The Kenyan shilling has made a strong turnaround against the US dollar this week,
- Last Tuesday, Kenya successfully raised $1.5 billion from its Eurobonds buyback offer initiated on February 7, reducing the chance of defaulting payment on its $2-billion-dollar debt due in June.
- East Africa’s most robust economy plans to use the funds to repay its debut Eurobond issued in 2014.
The Kenyan shilling has made a strong turnaround against the US dollar this week, moving towards the most potent levels since March last year, mainly on investor confidence and increased inflows.
The shilling, which rallied against the dollar, gaining about 10 per cent, comes from a strong demand for the country’s Eurobond and an oversubscribed local infrastructure bond.
Last Tuesday, Kenya successfully raised $1.5 billion from its Eurobonds buyback offer initiated on February 7, reducing the chance of defaulting payment on its $2-billion-dollar debt due in June.
East Africa’s …
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