Tag Archives: Central Bank of Kenya

Desperate move by Central Bank of Kenya to save the Sliding shilling

It is a pity that in more than a decade, the strength of the shilling has been vibrantly stable yet in less than a year it has been experiencing a sharp slide to the dollar, a fact Central Bank of Kenya has been unable to resolve amicably. Central Bank of Kenya is the financial regulating body.

Several strategies have been put in place without much success and the latest move by Central Bank of Kenya is raising eyebrows. The move to trade foreign currency directly to some targeted segments of the economy is up for critique from several quotas. The move by Central Bank of Kenya is likely to be a stimulant to other worse abuses.

Central Bank of Kenya in its desperate move to save the sliding shilling might have not weighed its options critically, living room for speculation, that some segments might take advantage be favored a fact that some investors fear.