Dollar market distortion eases after President Ruto directive

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Former Central Bank of Kenya Governor Patrick Njoroge on December 1, 2022. PHOTO | LUCY WANJIRU | NMG

The biting dollar shortage has eased following the revival of the interbank currency market on orders from the State House.

Bulk buyers of dollars have witnessed increased availability of the greenback in recent days, a marked departure from market conditions that saw banks run out of the US currency on some days as others imposed a daily cap on dollar purchases of as little as $5,000.

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