Kenyans feel the sting of shilling at 150 against dollar
Photo credit: GRAPHIC | GENNEVIEVE AWINO | NMG
The Kenyan shilling has, in one of the costliest freefalls in history, lost its value trading against the US dollar by nearly half in under 50 months, making consumers pay dearly for imported goods.
Several commercial banks are already selling US dollars above the Sh150 mark in Nairobi, piling pressure on the Kenyan shilling while setting up consumers for a new wave of currency-driven price increases across imported products including fertiliser, electronics and cars.
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