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Thursday, February 15, 2024 –The Kenyan shilling has continued gaining position against the world dollar in the few past days.
From as far as sh 160 per dollar to now sh 145 exchange rate against the dollar, the Kenyan shilling is gaining tract and value with a lot of speed.
Speaking through his official communication platforms today Thursday February 15, Economic Advisor to the president, Dr. David Ndii, explained that the move by the current regime to deal with the Eurobond menace had helped improve the shilling against the world currency.
“Markets have opened. Eurobond default risk has evaporated. Speculative dollar positions unwinding. That popping sound you hear is Azimio bubble bursting,” he remarked in a statement seen by this writer.
Other Kenyans who still think this is a temporary measure by the Kenya Kwanza regime, said, the shilling will still weaken in few days to follow.
“It almost feels like a coordinated effort to cause market-wide panic so Kenyans call sell their dollars cheap! What is the fundamental factor that has changed to warrant this strengthening of the Kenya shilling? Did we discover Gold?” a tweep noted.
Another concerned Kenyan, on social media, confessed never witnessing such a short time rise of the shilling in his life.
“I have never seen such a curve before. Just how volatile is this thing? “ Maxuel Airo said.
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