“We’ll allow the inflows and demand and supply of foreign exchange to determine that level but we have to have the right balance,” Thugge said.
“We must ensure that the exchange rate is broadly reflecting the market economic fundamentals and that the rate is that which encourages exports, that which is not punitive to imports,” he added.
The ongoing strengthening of the shilling against the dollar has resulted in the government saving KES 40 billion for every unit increase in the shilling’s value.
This development has also brought about positive effects on the lives of Kenyans, leading to considerable reductions in petrol prices. Conversely, electricity bills are anticipated to follow suit and decrease as well.
