The Kenya shilling extended its gains against the US dollar on Monday, touching its strongest level in two months as foreign exchange reserves climbed.
Central Bank data shows diaspora remittances hit a record monthly high, while tea and horticulture exports earned the country billions in foreign currency.
Analysts say the rally could ease import costs for fuel and machinery, but warned that manufacturers still face high electricity and transport costs.
Traders at Nairobi's forex bureaus reported increased dollar selling as importers took advantage of the stronger local unit.
Be the first to comment on this story.