Kenya Bank Governor Calls All to Be ‘Relaxed’ on Weaker Currency

Kenya’s central bank governor said the market shouldn’t worry about the local currency’s weakening in the past few weeks, and that record foreign reserves give him ample room to intervene.

The shilling has weakened 0.6% against the dollar month to date, according to data compiled by Bloomberg. That’s almost wiped out the unit’s gains this year. The currency was little-changed at 101.9 per dollar by 2:05 p.m in Nairobi.