Markets DeskReceipt
The shilling that stopped falling: KES 314,200 off a US$10,000 loan, KES 15,710 off a US$500 transfer
Our verdict · Opinion
The shilling's recovery was real and, in every CBK bulletin we read, it has held for two and a half years, but it was a transfer, not a gift: anyone who owes or pays in dollars now needs about a fifth fewer shillings, and every family living on dollars from abroad gets about a fifth fewer.
The CBK rate hit KES 161.36 to the US dollar on 23 January 2024. By 28 March 2024 it was KES 131.80, and on 8 October 2026 it was KES 129.94. A US$10,000 debt now costs KES 314,200 less in shillings; a US$500 monthly transfer from abroad buys KES 15,710 less.