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Weak shilling eats into budgets of Kenyan missions' by Sh3 billion
The shilling's exchange rate against major global currencies such as the dollar, euro and pound weakened significantly over the years, with the losses peaking in 2023.
A weak shilling has eaten into the budgets of Kenya's diplomatic missions abroad by Sh3.26 billion in the five financial years to June 2024, hitting the spending power of the missions and their staff in the respective countries.
This is based on a document from the Ministry of Foreign and Diaspora Affairs that shows the losses were highest in the year to June 2023 at Sh1.38 billion.
