The making of a dollar economy amid scarcity

US dollar bills on background with dynamics of exchange rates in a trading and financial risk concept. [Getty Images]

The words “legal tender for one thousand shillings” on the back of the Sh1,000 banknote means that the currency must be accepted if offered in payment anywhere in Kenya.

However, if you buy cooking oil from a certain local edible oil manufacturer, then you might already have received a memo that weakens the power of your Sh1,000.