The value of dollar deposits held by Kenyans in local banks rose by 68 percent to a record Sh1.55 trillion in the 12 months to December 2023 on a weakening of the shilling and accumulation of foreign currencies to cover against uneven supply from the market.
The National Treasury published the data on the deposits in a prospectus for its new Eurobond issue, which was sourced from the Central Bank of Kenya (CBK).
