The Kenyan shilling has continued to experience significant volatility against major currencies something largely attributed to the disruption of trade and tourism activities due to the recent protests.
The latest data from the Central Bank of Kenya (CBK) shows that commercial banks closed the markets Friday exchanging the dollar at Sh131.574.
Some two weeks ago, the dollar traded at Sh128.
A month ago, before the start of the protests, the shilling remained its dominance exchanging at 128.77 to the dollar before falling to 129.52 on June 27 and further to 130.46 by July 19.
Financial experts have argued that the protests contributed immensely to the weakening of the shilling.
“The Kenya Shilling remained stable against major international and regional currencies during the week ending July 25. It exchanged at Sh132.22 per US dollar on July 25, compared to Sh129.99 per US dollar on July 18,” a statement from CBK read.
This is, however, not the first time the dollar recorded a drop since the government introduced new interventions to help stabilise it.
In April, the shilling was exchanged at 133.99 per dollar.
It was at its weakest in January, exchanging at Sh160 against the dollar.
CBK quoted the shilling at Sh139 on March 12 being the first time since June 2023.
The data further shows that the shilling is exchanging at 169.408 against the Sterling pound and 142.89 per the Euro.
In June this year, CBK quoted the shilling at 178.85 against the Sterling Pound and 152.32 against the Euro.
