Kenyans feel the pinch even as the shilling continues to lose value against the US dollar. Central Bank of Kenya (CBK) governor Kamau Thugge speaking at a past sitting with MPs. The Central Bank of Kenya (CBK) reported that the shilling exchanged at KSh 160.79 per US dollar as of Thursday, January 19. Should Kenyans save and transact in dollars? A Kenyan man shared his disappointment after KSh 10,469 was debited from his card for a service payment of USD 61. “They just charged my card KSh 10,469 for $61. That essentially means they did an exchange rate of KS 171.622 against the dollar. Are we seriously going to continue like this? What sort of country is this? Based on the current CBK rates, the USD 61 service should have cost KSh 9,799. The post enlisted mixed reactions from Kenyans, some advising the man to open a dollar account and transact using the US currency. @clichy_malooks noted: “Is that even legal? The only way is to get a dollar account.” @eyanm noted: “I think it’s easier to run a USD or GBP account with the current state of the nation.@mcm1777 claimed: “The parallel market is at 166, so 171 is probably a few days ahead.” @WRoselyne_ said: “Opt out… Transact in USD and save in Bitcoin.”
by Wycliffe Musalia
