Analysts at Genghis Capital forecast the shilling will remain at 102-104 levels against the US dollar, largely helped by increased inflows from Kenyans abroad, tourism receipts and exports.
“We expect diaspora remittances, tourism earnings and the rebound in exports to support the shilling between 102.00-104.00 levels in the year although the broad dollar strength will pressure the local unit,” Genghis said in an outlook report.
