Kenya criticises IMF over overvalued shilling remark

Central Bank of Kenya Governor Patrick Njoroge. FILE | NATION MEDIA GROUP

The Central Bank of Kenya (CBK) Governor, Dr Patrick Njoroge, has reiterated that the Kenyan shilling is properly valued and that its value was dictated by the forces of demand and supply.

Dr Njoroge said the shilling's value against other currencies, such as the US dollar, had no fundamental miscalculation as had been suggested by the International Monetary Fund (IMF) and other analysts.