Denis Young
Elder Lister
Is this the first time IMF is delaying release of credit to Kenya? I cannot quite remember another time.
It was only just a week ago they were telling CBK that the shilling was over valued by over 17% and that they should allow a floating rate.
This will allow the exchange rate to be determined freely by the market. Right now CBK have it at 117 to the dollar, while banks are selling at 126 making a serious killing.
Imagine the shilling at 126 or higher and the havoc it will cause on your pathetic shilling denominated savings. Hehe
It was only just a week ago they were telling CBK that the shilling was over valued by over 17% and that they should allow a floating rate.
This will allow the exchange rate to be determined freely by the market. Right now CBK have it at 117 to the dollar, while banks are selling at 126 making a serious killing.
Imagine the shilling at 126 or higher and the havoc it will cause on your pathetic shilling denominated savings. Hehe