More demand for the dollar to blame for a weakening shilling- Kamau Thugge

CBK Governor Dr Kamau Thugge before the Finance Committee at the Continental House, Nairobi. October 24th, 2023. [Elvis Ogina, Standard]

A steady demand for the U.S dollar has contributed to the continued devaluation of the Kenyan shilling.

According to Central Bank of Kenya Governor Kamau Thugge, the supply of the dollar has exceeded the demand forcing the shilling to trade at Sh150 against the U.S dollar.