Wall Street strategists now view the Kenyan shilling as one of Africa's most vulnerable currencies, predicting the Central Bank of Kenya (CBK) may soon scale back dollar sales, allowing the shilling to weaken.

• The CBK reportedly spent roughly US$941 million of its hard-currency reserves in the four weeks to April 2, attempting to maintain the shilling's stability near KES 129 to the dollar.
• Key organizations involved include Wall Street banks, the Central Bank of Kenya, and the IMF.
• The shift follows increased oil import costs due to the Iran war and potential IMF conditions favoring exchange rate flexibility.