Kenyans Now Forced to Buy One Dollar at Sh145


Kenyans looking to buy dollars from banks are having to pay Ksh 145 for one dollar.

Reports indicate that banks are currently selling dollars to customers for between Sh140.55 and Sh 144.50.

At the same time, the banks get the dollars for between Sh128.20 and Sh131.40 per unit.

The spread between the official and open market rates is shocking even as the Central Bank of Kenya tries to control the market.

In forex bureaus, consumers are forced to buy dollars for between Sh141 and Sh146 per unit, with the bureaus getting the dollar for between Sh135 and Sh138.

However, the Central Bank of Kenya (CBK) average rate is Sh129.52 per unit.

This puts a Sh16 gap between the official and open market trading price.

The current state of things puts buyers of dollars are at the mercy of sellers.