The Kenyan shilling has performed well against the United States dollar in recent months, maintaining its streak as one of the best-performing currencies globally.
Speaking on Wednesday, August 13, during the Monetary Policy Committee (MPC) meeting, Central Bank of Kenya Governor Kamau Thugge stated that the shilling remained stable, primarily supported by diaspora remittances.
He also attributed the shilling's stability to diversified foreign exchange inflows from offshore banks and agricultural exports, particularly coffee and tea.
According to the CBK boss, the local unit was projected to stabilise further against the dollar on the back of improved diaspora remittances, which, according to Thugge, were expected to increase by 6 per cent by the end of the year.
