Dollar trading margins hit Sh10 in currency woes

Money-dollars

Kenyans were holding onto a record Sh905 billion worth of dollar deposits in local banks as at July. FILE PHOTO | NMG

The scramble for US dollars has seen a widening spread in the pricing of the foreign currency by a margin of more than Sh10.

The bid-ask spread -- the difference between the price a dealer buys and sells a currency – has increased from as low as Sh2 in March.

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