Shilling weathers turbulent year for African currencies

The currency has had a bumpy ride this year marked by uncertain political environment. FILE PHOTO | NMG

The shilling could be out of the woods after a tough 2017 that saw the central bank come in heavily to support it against drought and a prolonged electioneering period that hurt economic growth.

With local risks subsiding, analysts have cautioned that external shocks in rising global oil prices and a stronger dollar, could weigh on the currency next year. This could force the central bank to remain vigilant, as it has been this year.

PAYE Tax Calculator

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