NAIROBI, Nov 13 (Reuters) - The Kenyan shilling is likely to reverse its recent losses against the dollar as the decline is driven by the strengthening of the U.S. currency since September, the central bank governor said on Thursday.
“It will reverse... the depreciation of the currency is not unique to Kenya,” Njuguna Ndung’u told Reuters, saying the shilling has lost 1.78 percent since the start of September.
The shilling has fared better than other currencies like the Tanzanian and Ugandan shillings which have lost 3.26 percent and 4.73 percent respectively during the period, Ndung’u said, quoting data from the central bank.
At 1045 GMT, the shilling hovered at a three-year lows, trading at 90.05/25 against the dollar. (Reporting by Duncan Miriri; Editing by James Macharia)