The Kenyan shilling has for the first time crossed the Sh116 mark against the dollar, setting the stage for costly imported goods such as cars, electronics, farm inputs and second-hand clothes as well as that of electricity amid a shortage of the US currency.
The shilling closed trading at Sh116.1 to the dollar, compared to Tuesday’s Sh115.99 and has depreciated from Sh113.13 at the start of the year.
