NAIROBI, April 23 (Xinhua) -- The Kenya shilling has fallen to its lowest level against the British pound and the euro in over a year, with the currency continuing to sustain losses against both, the country's central bank said on Wednesday.
The Central Bank of Kenya said the shilling traded at 173 against the pound and 148 against the euro, registering respective declines of 10 percent and 13 percent over the past year.
However, the shilling has maintained relative stability against the U.S. dollar, trading at an average of 129 for the last six months, which is supported by the bulk of its forex reserves in dollars.
The fast decline of the shilling against the euro and pound is attributed to increased demand for the two currencies globally, which are now seen as a safe haven amid global economic uncertainty worsened by the U.S. tariff policy.
