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Lower food prices push inflation rate to 6.62 percent in July

Kenya’s cost of living index fell to 6.62 percent in July down from 7.03 percent in June, 2015 due to drop in the price of foodstuffs which consumes the largest portion of household budgets including maize flour, cabbages, sukuma wiki and potatoes as well as cooking gas.
According to figures from the Kenya National Bureau of Statistics, the food and non-alcoholic drinks index decreased by 0.6 percent between June and July as observed from decreases in prices of various food items.

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National Bank’s new branch to host Yuan Centre

National Bank has opened a premium banking branch at Nairobi’s upmarket area, Yaya Centre that houses the region’s first Chinese Renminbi (Yuan) exchange Centre.
The exchange Centre is aimed at facilitating trade between Kenya and china. The branch provides customers with meeting space, free internet, children play-area and a choice between English, Swahili or Chinese speaking personal bankers.

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Shilling falls further against the US dollar

The Kenya shilling continued to weaken due to importer dollar demand from the energy sector and Central Bank of Kenya (CBK) limitations in preventing the local unit from weakening.
On Tuesday, Commercial banks quoted the shilling at 102.75/85 to the dollar, compared with Monday’s close of trading at 101.75/85.

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