More pain for consumers as shilling hits Sh100 mark

Central Bank of Kenya Governor Patrick Ngugi

The shilling slumped past Sh100 against the US dollar in levels last seen in mid-2011, as the heavy import bill continued to take its toll on the local currency.

Little is expected in mitigation measures from the monetary policy meeting today, forex traders are predicting, implying that the shilling could come under more pressure in the coming weeks. “We can expect further declines,” Joshua Anene, a senior dealer at CBA said.