The Kenyan shilling closed at KSh 129.24 per US dollar as of today holding steady from the previous session as global dollar strength and local pressures persist.
Against the euro, it traded at roughly KSh 150 per €1, and stood at KSh 173 per £1, reflecting sustained weakness against major global currencies.
In Asia, the shilling fetched approximately JPY 1.143 per KSh 1, after fluctuating between 1.129 and 1.154 during the week.
Market analysts say the shilling’s stability is short‑lived, warning that persistent demand for imports especially fuel and machinery and tight dollar liquidity continue to exert downside pressure.
They suggest that only a sustained surge in foreign exchange inflows from diaspora remittances, exports, or foreign direct investment could bolster the currency.
Kenyan businesses and consumers are thus bracing for continued import‑cost inflation unless the shilling is supported by stronger dollar earnings and improved macroeconomic fundamentals.
Written By Ian Maleve
