'As the assets in held in the Sovereign Wealth Fund will be denominated in foreign currency, the fund is also expected to result in in stability of the Kenyan Shilling
,' Britam Asset Managers chief investment officer James Mose said.
The pound has strengthened by 9.4% against the US dollar, 10.3% against the Kenyan shilling
and 17.3% against the Turkish lira compared with January 2017.
"The use of community currency actually improves the local economies, even in Kenyan shilling
sales," says Ruddick.
For the last two years, traders have been using specially printed vouchers to buy and sell commodities, alongside the national currency, the Kenyan shilling
. Named Gatinapesa (pesa means 'money' in Kiswahili), or Sarafu-Credit, (sarafu is the Kiswahili word for 'currency'), the new currency helps traders sell or buy surplus goods or services and keep the national currency for other purposes.
The country's vulnerabilities to external shocks have increased as a result of the depreciation of the Kenyan shilling
by 16 per cent to the US dollar in 2015.
The Kenyan shilling
increased in value following action by the central bank.
The falling value of the Kenyan shilling
means that shipments fell by 5.0% in US dollar terms (see 'Further Depreciation Ahead', August 20).
News of the quarry attack sent the Kenyan shilling
lower against the dollar early on Tuesday.
Sale volumes decreased due to the depreciation of the Kenyan shilling
by 13.5% in 2010 to 2011 and the steep oil and titanium prices (which account for 60% of the total production cost) passed onto the consumer.
Australia Barbados Bulgaria 2.35 Canada 1.54 China 9.25 Croatia 8.95 Czech Republic Egypt 8.75 Euro 1.20 Jamaica 122 Mexico 18.8 Norway 8.75 New Zealand Poland 4.80 Singapore South Africa Turkey 2.66 US 1.53 Call into your Choice shop deals, prices at time of But British visitors to the US are now getting around 0.7% fewer dollars than last year, while sterling has dipped 4.1% against the Kenyan shilling
Coming two years after allegations over vote-rigging in a presidential election ignited violence which killed some 1,300 people, the referendum boosted the Kenyan shilling
against the dollar and extended the Kenyan stock market's recent gains.
He said Pakistan imported 15.236 million kilo of tea worth 3.745 billion Kenyan shilling
during three months of 2010 while Afghanistan imported 17.311 million of kg tea worth 4.444 billion Kenyan shilling
during the same period.