So this one made a similar observation. This thing is cooked, probably to make more cash to state ju 'mshazoea'Kuna vitu mingi sielewi. What is this based on? Ama izi prices hapa don't reflect kwa ground? Someone with eyes tell us.
Also, I deal with $$ everyday. There is nowhere in a month the Ksh lost its value by 3 bob.
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EPRA- what's cooking ⛽
- Thread starter Okiya
- Start date
Denis Young
Elder Lister
This is what has been happening for I don't know how long. If you needed evidence of our low fx reserves, that is it. Maybe the dollar denominated bond isn't such a bad idea. We will also most likely have to borrow again soon; debt treadmill!
Acheni uongo The ksh didn't reach 123 last month. Ama wewe na hawa mko na soko yenu?
The fact that ksh is weak doesn't mean you cook your figures.
Also hii story ya ksh being weak because of kow reserves is neither here nor there. USD has generally been strong against all countries in the globe except two. Ama ata hao hawana reserves?
The strength of the US dollar is hurting other currencies. Here's how countries are responding
The US dollar is up 14% against some of the world’s most traded currencies. This has led to interest rate hikes as countries try to boost their currencies.
www.weforum.org
Last edited:
Denis Young
Elder Lister
Ala! What are you even saying?Acheni uongo The ksh didn't reach 123 last month. Ama wewe na hawa mko na soko yenu?
The fact that ksh is weak doesn't mean you cook your figures.
Also hii story ya ksh being weak because of kow reserves is neither here nor there. USD has generally been strong against all countries in the globe except two. Ama ata hao hawana reserves?
The strength of the US dollar is hurting other currencies. Here's how countries are responding
The US dollar is up 14% against some of the world’s most traded currencies. This has led to interest rate hikes as countries try to boost their currencies.
We know for a fact CBK has been managing the shilling, which is why we have black market pricing of the shilling.
There is also a direct correlation btn FX reserves and the strength of the shilling. It basically means if you are struggling with FX, you are importing more and selling less. So, you are operating at a trade deficit. It means your economy is not productive and people are holding less of your currency.
Actually the daily exchange rate which Central Bank is quoting for the dollar is not real. It is a massaged rate. The true market rate is something like 127. That statement by EPRA, a government body quoting a rate of 123 is quite telling and I hope the media will follow it up and asks questions.