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Winners and losers from the shilling’s record fall

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Central Bank Governor Kamau Thugge before the Senate Committee on Finance and Budget at the County Hall, Nairobi on Monday, December 4, 2023. PHOTO | DENNIS ONSONGO | NMG

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By  Kepha Muiruri

Business Reporter

Nation Media Group

Expatriates, Kenyans with foreign currency-denominated salaries, exporters and recipients of diaspora remittances have marked a significant windfall from the weakening of the shilling against major world currencies.

Their fortune is in sharp contrast to that of importers, individuals paying school and college fees overseas and borrowers in hard currency, who have suffered forex losses from the weaker local currency.

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