Please enable JavaScript to view advertisements.
×
App Icon
The Standard e-Paper
Home To Bold Columnists
★★★★ - on Play Store
Download App

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.

Premium Article

Get Full Access for Ksh299/Week.

Fact-first reporting that puts you at the heart of the newsroom. Subscribe for full access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902