Banks sell dollars past Sh150 on shilling rout

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Kenyan banks are earning margins of up to 10.5 percent on foreign currency transactions. PHOTO | SHUTTERSTOCK

Most commercial banks are now selling dollars past Sh150 to customers as the local unit continues to register an unchecked free-fall against the green buck.

While only a handful of banks were selling dollars past Sh150 a month ago, nearly all commercial banks including tier-one lenders have now matched the jump in price for the world’s reserve currency.

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