Dollar shortage mints more forex bureaus

Banks increased their issuance of loans in foreign currency amid the recent local forex market dysfunction. PHOTO | SHUTTERSTOCK

The local forex bureau business is flourishing as the trade finds itself in between a Shilling free fall and forex strife characterised by foreign currency demand-supply mismatches.

This has seen licensed forex bureaus expand operations by opening new outlets as the trade finds a sweet spot in the exchange rate volatility.

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