Kenya’s shilling is expected to depreciate at a slower rate this year, compared with 2022, on bets the US Federal Reserve will ease the pace of interest-rate hikes and expectations of a boost in foreign reserves.
The currency of East Africa’s largest economy has slid for 21 straight months against the dollar, the longest losing streak since 1989, according to data compiled by Bloomberg. It declined 9% against the greenback last year.
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