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Browsing: Exchange rates
- Kenyan Shilling drop to Sh100 against the dollar will mirror the pre-2020 levels
- A weak shilling means costly imports and the burden is often passed to the consumers.
- The exchange rate affects how much we earn from exports.
Kenya Shilling strengthening against the US dollar to the pre-2020 level of about 101 can only be realised sometime in September, according to market analysts.
The latest monetary update by the international research body, Economic Intelligence Unit (EIU), shows the US dollar will remain bullish against the local currencies for much longer amid the high Fed rate which will be maintained for much longer.
“The Fed cuts will come later than we previously expected,” the report reads.
“We have pushed the forecast for the date that the Fed will begin reducing its policy rate to September, from June previously, and now expect a 50-basis-point reduction before year end (from 75 basis points …