Inflation rates, interests rates and the rising cost of food
The Central Bank of Kenya head office in Nairobi. CBK's official exchange rate for the US dollar is Sh121.45. But if you are buying today, expect banks to charge you Sh126 and above. If you are selling, you might get Sh123 for the dollar.
In Kenya, we can expect to see a decline in the capital account surplus.
Generally, more dollars come into the economy than leave, mainly because of high remittances and investments.
This surplus could, however, decline as investors switch to US assets.
Central Bank of Kenya’s (CBK) official exchange rate for the US dollar is Sh121.45. But if you are buying today, expect banks to charge you Sh126 and above. If you are selling, you might get Sh123 for the dollar.
Why? The dollar is strengthening against most currencies globally. This is mainly because the US central bank is raising interest rates. The recent hike brought the rates up to 3.85 per cent.
