Absa feels pinch as weak shilling inflates debt load by Sh4 billion The weakening of the shilling lifted Absa Bank Kenya’s debt load by Sh4.2 billion to Sh24.02 billion
Dollar rally drives shilling to 5-day weakening streak Data from CBK shows that one dollar was exchanging for 131.44 shillings by end of last week.
Shilling is gaining value, but it won’t last Kenya operates a floating exchange rate regime. This means that the value of the shilling is determined by market demand and supply.
How Kenya shilling became best performer in sub-Sahara Africa The higher benchmark lending rate by the CBK has amounted to a defense of the shilling.
Prices of imported used cars to drop on strong shilling Prices of imported used cars are projected to drop by at least Sh100,000 from June.
Cash outside banks drop fastest in five years Cash circulating outside banks dipped at the fastest rate since Kenya’s demonetisation phase.
Cash outside banks hit an all-time high of Sh282bn in December 2023 Cash outside of banks rose to an all-time high of Sh282.1 billion in December last year.
Economists see shilling slide past 160, high prices The shilling could slide to more than 160 units against the US dollar in the coming months.
Car & General reduces dollar borrowings Car& General has cut its dollar-denominated borrowings following improved supply of the currency.
Treasury to issue local dollar bond to support budget The National Treasury plans to issue a local foreign currency-denominated bond to help finance its budget.
CBK buys dollars to curb shilling volatility The Central Bank of Kenya says it only intervenes to smooth out volatility when the shilling is moving too fast in either direction.
Kenyan shilling posts strongest single-day gain in 12 years The Kenya shilling posted its strongest intra-day gain against the US dollar in the last 12 years.
Shilling gains against dollar after sale of new Eurobond The shilling strengthened over three percent against the US dollar to reach 150.00/151.00.
Shilling stages 10-day rally against top EAC currencies The Kenyan shilling has gained against the Ugandan shilling for the last 10 consecutive days.
Dollar bank deposits surge to Sh1.5trn on weak shilling The value of dollar deposits held by Kenyans in local banks rose by 68 percent to a record Sh1.55 trillion.
Dollar loans rise to Sh1.2trn as firms cut forex exposure A dollar shortage in the country pushed foreign currency loans to a new record high last year.
Bank dollar rates ease as shilling stages rare rally Commercial bank dollar rates eased notably in the past week.
Firms stack up 70pc dollars in market Business corporates raised their share of dollar deposits in banks to 70 percent as of September last year.
Shilling in rare upturn, records biggest gain in three years The Kenya shilling on Tuesday gained at the fastest pace in three years against the US dollar.
As shilling drops, Kenyans flock to dollar investments Kenyans are flocking to US dollar-based investments to cushion themselves against the effects of a weakening local currency.
Why weak shilling failed to lift Kenya’s exports Kenya’s exports underperformed last year as exporters struggled to obtain hard currency to import intermediate goods.
Dollar loan defaults rise as forex scarcity persists Firms and individuals who tapped dollar-denominated loans have been offering banks repayments in local currency.
CBK buys dollars to build foreign exchange reserves CBK has switched roles to become a net buyer of US dollars to build up foreign exchange reserves.
Manufacturers raise prices by 9pc amid rising costs Manufacturers raised the prices of their goods by an average of 9.1 percent.
Shilling breaches Sh160 mark against dollar Kenya shilling has hit a historic low against the dollar, extending a run of record weakening.