Kenyan shilling sustains free fall against global currencies

NAIROBI, Jan. 23 (Xinhua) -- The Kenyan shilling traded at a new low of 161.4 against the U.S. dollar on Tuesday, the Central Bank of Kenya (CBK) said on Tuesday, as it continued with its free fall against major global currencies.

The local currency crossed the psychological 160 mark against the dollar on Jan. 19, and there seems to be no end in sight for the depreciation.

The year-on-year decline current