KSh 20k imeenda: Kenyans earning in dollars feel pinch as shilling gains value
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Kenyans and businesses earning in US dollars have seen the value of their income decline since February 2024. The Central Bank of Kenya (CBK) propped up the shilling against the US dollar, causing the shilling to appreciate. Kenyans working online and paid in dollars have seen their pay reduced by 15%. Kenyans working online and receiving salaries in dollars are struggling to pay bills amid a weak dollar. The appreciation of the shilling against the dollar is affecting Kenyans, leaving little or nothing for savings. Financial consultant Walter Tarus urged Kenyans hoarding dollars to sell them. Importers who ordered goods at a high dollar rate are counting losses. Manufacturers have been affected if raw materials were imported at a high rate. The employees who earn in dollars have seen a cut in their disposable income due to dollar depreciation. Tarus also mentioned that if employees had taken loans, they may need to seek repayment plan rescheduling with their banks.
#KenyanEconomy #KenyanShilling #UsDollar #ForeignExchange #Income #Employment #FinancialImpact
https://www.tuko.co.ke/business-economy/543578-strong-kenya-shilling-how-kenyans-businesses-earning-dollar-hit-2-months/
Tuko.co.ke /
npub15yg…zncw
2024-04-03 11:38:57
Author Public Key
npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwPublished at
2024-04-03 11:38:57Event JSON
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"content": "KSh 20k imeenda: Kenyans earning in dollars feel pinch as shilling gains value\n==========\n\nKenyans and businesses earning in US dollars have seen the value of their income decline since February 2024. The Central Bank of Kenya (CBK) propped up the shilling against the US dollar, causing the shilling to appreciate. Kenyans working online and paid in dollars have seen their pay reduced by 15%. Kenyans working online and receiving salaries in dollars are struggling to pay bills amid a weak dollar. The appreciation of the shilling against the dollar is affecting Kenyans, leaving little or nothing for savings. Financial consultant Walter Tarus urged Kenyans hoarding dollars to sell them. Importers who ordered goods at a high dollar rate are counting losses. Manufacturers have been affected if raw materials were imported at a high rate. The employees who earn in dollars have seen a cut in their disposable income due to dollar depreciation. Tarus also mentioned that if employees had taken loans, they may need to seek repayment plan rescheduling with their banks.\n\n#KenyanEconomy #KenyanShilling #UsDollar #ForeignExchange #Income #Employment #FinancialImpact\n\nhttps://www.tuko.co.ke/business-economy/543578-strong-kenya-shilling-how-kenyans-businesses-earning-dollar-hit-2-months/",
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