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In an unprecedented move in recent history, the Central Bank of Kenya (CBK) issued a cautionary guideline for commercial banks to ration dollars. This seems to have caught many businesses, dealers and analysts by surprise. Official data still project a healthy dollar reserve for the country, even above the East African Community import cover guide.
For many ordinary folks, such pronouncements mean little to them as only a small population ever deals in forex currencies. However, the consequences of this rationing have far-reaching effects at household or individual levels. In a globalised world, complex economic interactions are facilitated behind the scenes through the financial markets to make available basic goods and services to consumers at affordable prices.
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