Why is the Kenya shilling losing against US Dollar?

BDsillinganddollar

A weak shilling cost the taxpayer an extra Sh65 billion monthly in the year to June 2023. PHOTO | SHUTTERSTOCK

Since the beginning of 2020, the Kenya shilling has lost approximately 25 percent of its value against the US dollar, falling from Sh99 to Sh124.

This means that Kenyans will need to spend 25 percent more shillings to buy the same amount of dollars.

PAYE Tax Calculator

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