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Cash in Kenyans’ pockets jumps to 19-month high
A Nairobi market trader counts money after a day’s sales. Money outside banks defies Covid-19 economic hardships to rise Sh223 billion in October from Sh194 billion in April. PHOTO | FILE | NATION MEDIA GROUP
The amount of cash circulating outside the banking system and in people’s pockets hit a 19-month high in October, buoyed by more firms resuming operations after the easing of some restrictions imposed to stem the spread of Covid-19.
Central Bank of Kenya (CBK) data shows that cash outside banks rose to Sh223 billion in October from Sh217 billion in September and Sh194 in April — when Kenya imposed a coronavirus-induced partial lockdown that led to layoffs and pay cuts.
