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Forget shilling's gain against dollar, economy under firm grip of cartels

Treasury CS Njuguna Ndungu. [Elvis Ogina, Standard]

The forex market was thrown into a spin this week with the exchange rate of the shilling to the dollar appearing to be on a free walk across the commercial banks.

A quick scan of the rates posted online showed the best rates on offer being by Equity Bank, buying the US$ at Sh135.8 and selling at Sh140.8 at the close of the markets on Thursday.

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