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Shilling tipped to weaken further on low forex inflows
Kenya will pay an extra Sh1.9 billion in subscriptions to the African Union (AU) and other international organisations due to the drop in the value of the shilling against world currencies. PHOTO | SHUTTERSTOCK
Lower foreign exchange inflows and higher global interest rates are the key factors that will see the Kenyan shilling continue to lose ground against the US dollar, according to data analytics and intelligence firm Stears.
The Kenyan unit was exchanging at Sh147.26 against the greenback on Thursday, according to data from the Central Bank of Kenya (CBK), compared to Sh120.45 during the same period last year marking a depreciation of 22.2 percent.
