Kenyan Shilling , How its Value has Depreciated in a year
The value of the Kenyan currency has been experiencing a depreciation not only against the dollar but the same has been experienced the euro and pound.
In the recent months , the kenyan shilling has also dropped in value within the East African region.
Experts say that the reason behold depreciation has occasioned a hike in prices of local commodities, the imported goods as well as other basic needs within the household.
Back in 2022,the value of the Kenyan shilling against the American dollar was Sh120.8 few months later, the shilling went to the lowest of Sh134.
Details from the Central Bank Of Kenya indicate that as of October 4, 2023,Kenyan shilling against the dollar was Sh148.4.Just days before this ,it value was at Sh147.8.
Since the time President William Ruto took office, back in a April 2023,being the president he promised that the dollar exchange rate to the Kenyan shilling would be going down to below Sh120 something that has not happened.
Kenyan Shilling , How its Value has Depreciated in a year