Bank dollar deposits up by record Sh129 billion

The Central Bank of Kenya head office. FILE PHOTO | NMG

Dollar deposits in bank accounts of rich Kenyans grew by Sh129 billion last year in a period the shilling declined sharply against the American currency and the wealthy stockpiled hard currency to protect their savings.

Latest Central bank of Kenya data shows that the value of dollar accounts stood at Sh740.6 billion in December a 21 per cent jump from Sh611.2 billion in January.

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