The Kenyan Shilling is facing significant pressure and could plummet due to the ongoing Middle East war, leading to a surge in the U.S. dollar and increased cost of living.

• The Kenyan Shilling traded at Ksh129.72 against the dollar on Thursday, down from Ksh129.30 on March 12.
• Experts from the Institute of Economic Affairs (IEA) warn the shilling could fall to Ksh160 by year's end.
• The conflict is causing disruptions in trade, with Kenyan exporters estimated to be losing about Ksh1.2 billion weekly.

Kenyan flower exporters have suffered significant financial losses amounting to $4.8 million due to the ongoing conflict in the Middle East, which has disrupted critical air cargo routes.

• The losses include $2.1 million from flowers that perished and $2.7 million from reduced prices due to delays and compromised quality.
• This information was shared by Clement Tulezi, Chief Executive Officer of the Kenya Flower Council.
• The conflict affects not only direct trade but also the use of Gulf countries as transit hubs for shipments to Europe and other markets, highlighting the sector's vulnerability.

The World Bank Group has pledged financial aid and support to vulnerable countries, including Kenya, facing fuel and fertilizer shortages exacerbated by the ongoing Middle East war. The conflict has disrupted supply routes, leading to significant price hikes.

• World Bank is ready to provide immediate financial relief and policy expertise.
• The escalating conflict has caused crude oil prices to increase by nearly 40% and nitrogen-based fertilizers by nearly 50% between February and March.
• President William Ruto warned Kenyan oil marketers against hoarding fuel during this crisis, assuring the public of adequate supplies.

The Embassy of Iran in Nairobi has strongly refuted claims that a crisis in the Strait of Hormuz will lead to increased fuel prices in Kenya.

• The Embassy described reports of potential price hikes as "simply false and propaganda."
• Key parties involved are the Embassy of Iran, which issued the statement on March 27, and accusers cited as the US and Israel.
• The Embassy asserted that its nation is committed to facilitating maritime commerce and is exercising its right of self-defence, dismissing the claims as a propaganda effort by its adversaries.