Investors and economists have expressed fears over the US dollar remaining the 'global currency' after the dollar fell to a three-year low against the Euro, sparking fresh concerns over President Donald Trump's erratic trade policies.
Despite the dollar dropping after a huge sell-off in April, the Kenyan shilling dropped slightly against the currency but lost to the Japanese Yen and the Euro. The Shilling closed the week at Ksh129.48, down from Ksh129.27 the previous week, and has remained around the Ksh129 mark since mid-last year.
The shilling dropped to the strengthening Yen and Euro to close at Ksh88.40 and Ksh142.54, respectively.
They both grew by nearly Ksh3 in a week when the greenback experienced particularly sharp drops against safe-haven currencies like the Japanese yen, Swiss franc, and euro.
