{"id":4866,"date":"2020-03-24T16:44:51","date_gmt":"2020-03-24T16:44:51","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=4866"},"modified":"2020-03-24T16:44:51","modified_gmt":"2020-03-24T16:44:51","slug":"cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors","title":{"rendered":"CBK Governor Patrick Njoroge links some shillings problems to malicious actors"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Some of the Kenyan shilling\u2019s recent weakening was caused by market misunderstanding of the central bank\u2019s plan to boost its reserved by buying dollars from the market, and some \u201cmalicious actors\u201d, the central bank governor said on Tuesday.<\/p>\n

The shilling is hovering close to its record low of 106.70 per dollar, mainly due to the strengthening of the dollar and concerns about the impact of the coronavirus on Kenya\u2019s export earnings.<\/p>\n

The bank in March said it will buy 100 million US dollar a month between March and June to increase reserves and will also purchase a minimum $1 million from banks at prevailing rates in each deal.The bank has bought dollars in the past through open market operations, but it does not usually disclose the target amount or any other details.<\/p>\n

New developments across the globe, including a significant drop in oil prices, have opened a window for a more formal dollar purchase programme, the Central Bank of Kenya (CBK) said in a statement seen by Reuters.<\/p>\n

\u201cThis would bolster CBK\u2019s preparedness to deal with heightened global volatility and uncertainties,\u201d it added.Traders reacted angrily to the move, saying the central bank\u2019s intervention could distort the foreign exchange market, due to the anticipated spike in demand for dollars.<\/p>\n

\u201cThey should have bought dollars discreetly,\u201d said a market participant who did not wish to be named.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Some of the Kenyan shilling\u2019s recent weakening was caused by market misunderstanding of the central bank\u2019s plan to boost its reserved by buying dollars from the market, and some \u201cmalicious actors\u201d, the central bank governor said on Tuesday. The shilling is hovering close to its record low of 106.70 per dollar, mainly due to […]<\/p>\n","protected":false},"author":84,"featured_media":4867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3,8],"tags":[2575,2576],"class_list":["post-4866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","category-homepage-english","tag-patrick-njoroge","tag-us-dollar"],"yoast_head":"\nCBK Governor Patrick Njoroge links some shillings problems to malicious actors - kenya<\/title>\n<meta name=\"description\" content=\"Some of the Kenyan shilling\u2019s recent weakening was caused by market misunderstanding of the central bank\u2019s plan to boost its reserved by buying\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBK Governor Patrick Njoroge links some shillings problems to malicious actors\" \/>\n<meta property=\"og:description\" content=\"Some of the Kenyan shilling\u2019s recent weakening was caused by market misunderstanding of the central bank\u2019s plan to boost its reserved by buying\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-24T16:44:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/03\/mzwepmdyhwbuvq5e79d528b1666.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"993\" \/>\n\t<meta property=\"og:image:height\" content=\"497\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBK Governor Patrick Njoroge links some shillings problems to malicious actors\",\"datePublished\":\"2020-03-24T16:44:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\"},\"wordCount\":241,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/03\/mzwepmdyhwbuvq5e79d528b1666.jpg\",\"keywords\":[\"Patrick Njoroge\",\"US dollar\"],\"articleSection\":[\"all news\",\"community\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/community\/cbk-governor-patrick-njoroge-links-some-shillings-problems-to-malicious-actors\",\"name\":\"CBK Governor Patrick Njoroge links some shillings problems to malicious actors - 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