Someone needs to halt fall of the shilling and save weak economy

When the shilling closed at a high of Sh97 to the dollar last Friday, it had depreciated by 5.4 per cent, the lowest digit in nearly five months.

Many in the money market were filled with aghast because it seemed as if nobody, at least at the Central Bank of Kenya, cared much about the dwindling fortunes of the shilling. It would be foolhardy to imagine that the rise of the dollar was limited to the Kenyan currency alone. Across the globe, the dollar appreciated 11 per cent against major currencies like the Euro and Yen in the last three months to April.