Kenyan Shilling Weakens Against U.S Dollar After 20-Month Winning Streak
Following the latest developments, it is now to be seen whether the local currency will rebut the external pressures or continue weakening over the coming days...
✨ Key Highlights
The Kenyan Shilling has weakened against the U.S. Dollar for the first time in 20 months on Wednesday, April 1, reaching Ksh130.0200 against the dollar.
- The Shilling touched the 130 unit level for the first time since August 2024.
- This weakening is attributed to increased demand for foreign currency by importers and manufacturers, partly influenced by the ongoing Middle East war.
- This shift follows a period where the Shilling was ranked the most stable currency in Africa and fifth globally by Bloomberg, with a volatility rate of just 1.5 per cent.
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Kenyan Shilling Weakens Against U.S Dollar After 20-Month Winning Streak - April 2026
The Kenyan Shilling has weakened against the U.S. Dollar for the first time in 20 months on Wednesday, April 1, reaching Ksh130.0200 against the dollar. Kenya's Cabinet Secretary for Investments, Trade and Industry, Lee Kinyanjui, has stated that Uganda and Tanzania may soon rely on Kenya for fuel due to worsening energy crises in their countries. Meanwhile, global financial institutions are joining forces to combat the escalating fuel crisis stemming from the Middle East conflict, with the IMF and World Bank offering support amid fuel shortages in Kenya.
