Lower foreign exchange inflows is among factors that contribute to Kenyan shilling losing ground
In Summary
• Lower foreign exchange inflows and higher global interest rates are the key factors that contribute to Kenyan shilling losing ground against the US dollar.
• Kenya relies on forex inflows from diaspora remittances, exports, tourism, foreign direct investment and foreign loan disbursements to stabilise the currency.
Lower foreign exchange inflows and higher global interest rates are the key factors that contribute to Kenyan shilling losing ground against the US dollar, according to data analytics and intelligence firm Stears.
Kenya relies on forex inflows from diaspora remittances, exports, tourism, foreign direct investment and foreign loan disbursements to stabilise the currency.
