Shilling hits new record low against the dollar

shilling-note

Kenya currency notes. PHOTO | NMG

The shilling on Wednesday hit an all-time low against the dollar, setting up the country for more expensive imports, electricity and debt servicing distress.

Central Bank of Kenya (CBK) data shows the shilling exchanged at an average of 127.08 on Wednesday evening against the dollar compared to Sh123.42 at the start of the year.

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