The amount of cash in Kenyans’ pockets dropped to a six-year low in September with the biggest drop emerging in the period when the Central Bank of Kenya (CBK) retired old Sh1,000 banknotes.
CBK data shows that the cash circulating outside banks dropped to Sh157.7 billion in September — the lowest since April 2014. September was the deadline for all Kenyans to convert their old Sh1,000 notes to the new currency that was unveiled on June 1.
