Shilling weakened after Kenya bought euros, say analysts

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Analysts have challenged Kenya's central bank on its position in currency markets after it bought euros worth €8m ($9.69m) on the back of a weakening Kenyan shilling.

On Monday, Njuguna Ndung'u, the governor of the central bank, said a temporary flight to safety triggered by the Greek crisis had caused the Kenyan shilling to decline against the dollar. "The current movements in the shilling against other currencies are the result of international market developments not related to Kenya," he sai

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