The Kenyan shilling has maintained an exchange rate of approximately Ksh129 per US dollar since August, a stability that has sparked fresh debate on the broader economic impact on households and businesses. Treasury Principal Secretary Chris Kiptoo has suggested that, were it not for the Central Bank of Kenya (CBK) actively buying dollars, the currency could be trading as low as Ksh100 to the greenback.
Speaking at an economic forum on Thursday, Kiptoo highlighted the CBK's intervention as a key factor in preventing the shilling from appreciating too rapidly. "In fact, the Central Bank has been buying dollars over the same period.
You can imagine if it was not going to the market to buy, what would have happened?
The shilling would have been even stronger, perhaps around Ksh100," Kiptoo stated.
