Kenya: Shilling Seen Hitting 110 Against the Dollar

The African Development Bank's [AfDB] has cut their Kenya 2011 GDP Estimate to 3.5-4.5% from an earlier forecast of 4.5-5%. The AfDB was quoted on Reuters; "The shilling could continue tumbling, I see it hitting 100. That will definitely happen, could be anytime in the next two weeks," Odero [AfDB] said. "The reason it could go beyond 100 is because we don't have control over the dollar movement... I don't see it going beyond 110 ... Around 110 it could start rising again."

Source: http://allafrica.com/stories/201109261985.html

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