Alarm as money supply falls by Sh419b amid economic crisis

A woman using credit card to withdraw cash at the ATM. [Getty Images]

Kenya's money supply fell at its fastest rate in nearly two years in July, a red flag for the battered economy and financial markets.

The cash circulating within and outside the banking system fell in July by 7.54 per cent, or Sh419 billion, from a month earlier amid the raging economic crisis marked by a worsened cost of living.