The Central Bank of Kenya (CBK) Governor Kamau Thugge said that potential investors have been withholding their money while others withdrew their investment from the region exposing the shilling to more shocks.
According to the Central Bank investor apathy caused by uncertainty on the repayment of the $2 billion (Sh300 billion) Eurobond maturing next year is partly to blame for the depreciation of the shilling.
The Kenyan currency hit an all-time official low of 150 shillings to the dollar on Monday, worsening the economic situation in the country plagued by high inflation and debts.
The shilling's depreciation has accelerated over the past year, losing almost 24 per cent of its value against the dollar.
