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Shaky shilling rounds off the worst run in 30 years
The depreciation has had the impact of increasing import costs, with the volume of orders from abroad decreasing as a consequence, while the cost of external debt service rose. PHOTO | SHUTTERSTOCK
The shilling is set to close 2023 on the worst run since 1993 after a year of turmoil in the foreign exchange market.
The local currency has shed over 26 percent of its value against the US dollar, having traded at Sh155.47 on Friday compared to Sh123.37 at the end of last year, according to Central Bank of Kenya (CBK) data.
