How drop in dollar may lower the petrol prices

For the first time in about ten months, the dollar has bowed to the Kenya shilling and now exchanging at 99.85 units.

Below 100, is after the triumphs the dollar has been making in the recent past.

The fall of the dollar against the shilling will likely lead to a change in the fuel cost, medicines and machinery.

shilling CBK imf

It will also be a deal to importers since they will be spending fewer shillings to buy from abroad.

For importers and other people who bring foreign currency into the country however, it is not welcome news.

Since petroleum is one of the major imports into the country, the dropping of the dollar may likely lead to lowering of petrol, diesel and other products.

Leave a Reply

Your email address will not be published. Required fields are marked *