The Central Bank of Kenya (CBK) has rubbished concerns that persistent dollar shortages are triggering the emergence of a parallel exchange rate where lenders buy and sell well above the printed official rate.
CBK governor Patrick Njoroge scoffed at claims by manufacturers that constraints in dollar supply were forcing them to buy the greenback at more than Sh120 compared to the central bank’s official average exchange rate of Sh116.84 per dollar as of Monday.
