The value of dollar deposits in commercial banks climbed to a new all-time high of Sh1.185 trillion by the end of June on the back of the depreciating shilling, rewarding account holders with double-digit capital gains on their hard currency stock.
New data from the Central Bank of Kenya (CBK) shows that the shilling equivalent of these deposits rose by Sh93 billion in June alone, boosting the year-to-date growth in value to 28.7 per cent or Sh264 billion.
