This archive report was first published on 17 July 2020.
On July 17, 2020, the Kenyan shilling reached an all-time low of KSh 107.55 against the US dollar, sparking concerns about the country's economic stability.
The downward trend in the shilling's value has been attributed to several factors, including the easing of movement restrictions by President Kenyatta, which has led to a surge in economic activity and a subsequent increase in demand for dollars.
Kenya's economy is heavily reliant on imports, and the weakening shilling implies that merchandise importers will have to pay a higher price for their commodities, which will be passed on to the final consumer.
Analysts are awaiting the next monetary policy meeting on July 29 to find out measures taken to address the volatility in the local currency.
