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National Treasury PS tells manufacturers to tone down their sentiments on dollar shortage

8th June, 2022

National Treasury Principal Secretary, Dr. Julius Muia has told manufacturers to tone down their sentiments on dollar shortage to avoid creating an artificial shortage in the market. Kenya Association of manufacturers have in the last month argued that importers are struggling to import raw materials because they can’t access dollars at the official rate of about 117 shillings per dollar, forcing them to buy at a rate of 120 shillings or even higher. But the central bank of Kenya insists there is sufficient foreign currency to meet demand.

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