Africa-Press – Kenya. President William Ruto has announced that the dollar exchange rate to the Kenyan shilling will be going down in the coming weeks. https://rb.gy/8i10h President William Ruto has announced that the dollar exchange rate to the Kenyan shilling will be going down in the coming weeks.
The President said in his estimation, the dollar exchange rate will go down to below Sh120, in a very phenomenal way “Maybe Sh115, you never know,” he stated.
The dollar exchange rate is currently at Sh133.3, according to the Central Bank of Kenya’s website. He said his estimation is due to the work of the team who are working in public service to deliver their mandate.
The head of state also announced that marketers will now be able to buy fuel in Kenyan shillings from the month of April, adding that many people in the country never thought it would be possible.
“This will reduce the pressure on the dollars,” he added. He also commended the people in his team who are doing a tremendous job to help the government deliver its mandate.
In March 2023, Trade and Investments Cabinet Secretary Moses Kuria said the government is working to ease pressure on the shilling. Kuria said that there are plans underway to see that in the near future, the dollar-shilling exchange rate will stand at Sh85.
He said this will come as an effect of the move by Energy and Petroleum CS Davies Chirchir to restructure the fuel supply chain. “My distinguished colleague Davies Chirchir is working hard to restructure the fuel supply chain in order to ease the pressure on the Shilling,” he said.
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