Kenya's central bank chief has said that the country's currency, currently trading at record lows, has been overvalued for several years.
"I think for several years now we have had an overvalued exchange rate," Central Bank of Kenya governor Kamau Thugge told a parliamentary committee on Tuesday."We tried to maintain a fairly artificially strong exchange rate but also at a cost of a loss of international reserves," said Thugge, who took office in June this year.
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