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IMF raises alarm over static Kenya shilling versus dollar
Kenya, as a member of the IMF, has obligations on its exchange rate dealings where it is required to allow market forces to influence the currency market.
The International Monetary Fund (IMF) has expressed concern over the unchanged value of the Kenyan shilling against the dollar despite global shifts that were expected to see a stronger local currency.
IMF officials are reported to have termed the shilling too stable during their recent staff visit to Kenya, which concluded on October 10. The shilling has remained at the Sh129 range against the dollar for nearly a year.
