On Monday, the Kenyan shilling dropped to a historic low of 150 against the US dollar. This increases the pressure on the country's dwindling foreign exchange reserves and making imports expensive amid rising inflation.
The Central Bank of Kenya (CBK) placed the local unit to the dollar at 149.94 in Monday trading, a 24 percent decline year-to-date. The forex reserves on Oct. 19 stood at a new low of 6.83 billion US dollars, which covered only 3.67 months' worth of imports, a fall from 7.29 billion dollars a year ago.
Source: english.news.cn
