Shilling hits historic low as fuel deal fails to stop slide
A government-backed deal to import fuel on credit has failed to stop the depreciation of the Kenyan shilling against the dollar.
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A government-backed deal to import fuel on credit has failed to stop the depreciation of the Kenyan shilling against the dollar.
The Kenyan interbank market for hard currency has turned dormant in recent years, due to what traders said was aggressive policing by CBK.
The biting dollar shortage has eased following the revival of the interbank currency market.
Foreign investor sales at the Nairobi Securities Exchange (NSE) slowed down in August, reflecting a decline in supply of shares after heavy sales.
NSE has turned bullish, lining the pockets of investors with a Sh192 billion jump in paper wealth in just one week.