Rich Kenyans dollar savings grow to Sh320bn amid shortage

BDDOLLAR

Ten external creditors handed Kenya relief by suspending the repayment of Sh42.65 billion loans across 2021. FILE PHOTO | SHUTTERSTOCK

Households joined corporate bodies in the race to stack up dollars in banks amid a supply deficit that fuelled the hoarding of the greenback last year.

The latest data from the Central Bank of Kenya (CBK) show that foreign currency deposits owned by households soared to close the year at Sh320 billion from Sh285 billion.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.