 |
| A driver in his car |
The Kenyan shilling has continued to strengthen against the United States (US) dollar and other world currencies. A man in the driver's seat. The cost of the Nissan Note and other models has come down. According to the official Central Bank of Kenya (CBK) rate, the shilling exchanged at 129.14 against the US dollar on Thursday, June 27. How strong shilling cuts import costs FX Pesa lead market analyst Rufas Kamau explained that a strong shilling makes imports cheaper, saving money on essential goods and services. Kamau noted the overall savings from reduced import costs outweigh the losses from lower export revenues. "The strengthening of the shilling against the US dollar and other foreign currencies has a net benefit for the country. Being a net importer, we save more money with a strong shilling compared to the value we lose through lower exports," Kamau told TUKO.co.ke. "It also increases confidence for foreign direct investments since they were running away due to the depreciating shilling last year," he added. How did a strong shilling impact car import costs? The prices of popular car models reduced by double-digits between January and June, driven by a strong local currency.Kenya Auto Bazaar Association secretary-general Charles Munyori confirmed the prices of second-hand vehicles had dropped during the period under review. "We have seen price drops as a result of how the shilling has gained against the US dollar," Munyori told Daily Nation.
by Japhet Ruto
The clip showed the lady walking from the sitting room where she was babysitting the children, and she stepped into the open kitchen at th...
“If one fails to understand those dynamics, he finds himself in collision with his boss,” Lotodo said. The former assistant minister added...
B arclays Bank of Kenya has launched a new mobile loans service dubbed Timiza, increasing the competition in the lucrative micro lending seg...
Post a Comment