Tag: US Dollar

Shilling weaker as Monetary Policy Committee team meets

Digital lending apps are leaving millions of Kenyans trapped in indebtedness, an expert has told the BBC. [PHOTO | COURTESY]

ZACHARY OCHUODHO The shilling yesterday dipped for the third consecutive day to hit 103.65 against the US dollar even as Monetary Policy Committee (MPC) meets today to review the prevailing macro-economic conditions and set the benchmark lending rate for the next two months. Experts attributed the drop of the shilling against the US dollar partly to […]

Treasury: Kenya’s Eurobonds increase cost of borrowing

Zachary Ochuodho @PeopleDailyKE Kenya’s Eurobond issued in May has eased Treasury’s pressure on refinancing maturing loans but it has exposed the country to increased costs of paying interest on foreign debt, a new report by Moody’s warns. The $2.1 billion (Sh210 billion) Eurobond proceeds reduced the Government’s short-term external refinancing risks, and also slashed the […]