The last time the Kenyan shilling stood at Sh104.25/35 per dollar was in 2015, and today, the shilling just touched the line with fingers pointing at importer demand and excess liquidity in the money market.
The central bank’s big dog governor Patrick Njoroge, had earlier refuted claims of money market’s concerns about the impact of graft charges against the finance minister and purely laid blame on the demand for the dollar and to excess liquidity in the money markets. Something which senior traders at commercial banks acknowledge.
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