Bank dollar rate jumps to Sh130 on high demand

Retail dollar buyers are now paying up to Sh130 per unit in Kenyan banking halls, underlining the large margin between the official printed rate and the market rate for customers.

Several large banks are now selling the greenback at between Sh130 and Sh131 per unit, while buying the same at between Sh117 and Sh119, with bankers saying the higher prices have been driven by demand and the cost of accessing the hard currency on their part.