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Kenya is seeking to exit the Government to Government (G2G) deal with Saudi Arabia saying that it is distorting the forex market admitting that it has failed to ease the pressure on the dollar.
The dollar index, which tracks the greenback against a basket of six currencies, was up 0.08% at 103.43, on pace for its sixth straight day of gains and was up 0.9% on the week.
Hovers in range of 279-280 in inter-bank market
Falls Re0.01 in inter-bank market on Tuesday
Currency hovers at 280-281 level in inter-bank market