Low exports to US denies traders dollar windfall

Kenya has cut back on its planned borrowing from IMF by 7.2 percent to Sh465.4 billion.

Photo credit: Shutterstock

Kenya’s earnings from exports to the United States for the half-year period ended June slid at the sharpest pace in more than two decades, denying traders gains from a weakening shilling against the dollar.

The country sold goods worth Sh32.21 billion to the world’s largest economy, according to provisional official data collated by the Central Bank of Kenya compared with Sh40.36 billion in a similar period last year.

PAYE Tax Calculator

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