Kenyans move cash into dollar accounts as firms feel shortage

Kenya shilling is weak and is trading at 116.95 against the dollar. [iStockphoto]

Cash in dollar accounts held by Kenyans surged to a high of Sh811 billion even as the country continued to grapple with a shortage of the greenback.

Data from the Central Bank of Kenya (CBK) by end of March shows that foreign currency deposits held by Kenyans rose by 4 per cent year-on-year to Sh780 billion. This money is not available for trading.