The Kenya shilling has depreciated faster despite the Central Bank of Kenya (CBK) raising interest rates last month to counter weakness in the local currency.
The shilling’s depreciation against the US dollar has for instance quickened to a mean of 0.16 percent or 16 cents per day since the tightening of monetary policy on December 5 from an average daily change of 0.069 percent in the month preceding the interest rate increase.
