Michael, Unless you corroborate your theory, its highly doubtable. As i second Muga, me thinks; 1. Kenya is importing too Much more and exporting too little. This has created deficit in our current account. We import in USD hence its high demand. 2. The Euro crisis. This has weakened the other currencies (£ and €) making the USD stronger and on high demand. 3. Threats from terrorists(insecurity). We are less in the tourism sector. 4. The turbulence in Egypt meant less tea exports to one of the Kenyan's largest market. 5. County government expenditure. A)This has led to less cash circulation. Funds are lying in the account. B). Most counties are spending on infrastructure rather than in investment, large wage bills and misuse of funds/corruption. Cc all. Bravo
On Sep 7, 2015, at 4:29 PM, Joseph M Owino via skunkworks <skunkworks@lists.my.co.ke> wrote:
Hi,
The simplest explanation, though not the best can go like this “The US economy is doing well and hence the dollar strengthening”. Europe just bailed out a member hence the weakening Euro. (the Euro is at its lowest level to the dollar since 2003).
Being a country that imports way too much, we will be affected by the dollar strengthening even a little bit.
The dollar is strengthening against all major currencies and if you have noticed a lot of American multinational companies have been affected by this. The dollar is enjoying its fastest rise in 40 years. (15% rise).
Importing things (oil, industrial goods etc.) will cost more for the country and hence the move by the government to try and increase influx of tourists to slow this decline and increase inflow of dollars & increasing interest rates among other things.
The conspiracy part, I cannot say anything about that.
#My2Cents and please #SchoolMe too J
Regards Muga.
From: Michael Bullut via skunkworks [mailto:skunkworks@lists.my.co.ke] Sent: Monday, September 07, 2015 2:54 PM To: KICTAnet ICT Policy Discussions <kictanet@lists.kictanet.or.ke> Cc: Skunkworks Mailing List <skunkworks@lists.my.co.ke> Subject: [Skunkworks] Value of Kenyan Shilling (vis-à-vis Elections)...
Greetings Listers,
I apologize for cross-posting. I have been following the deprecation of the shilling in recent times with great concern and I want to know what you think is casing the downfall of our currency. With a little over a year to the next general elections, I believe this plays a part (call me a conspiracy theorist). Who here remembers the decline of the Kenyan Shilling shortly before the '07 elections? #schoolme
Warm regards,
Michael Bullut.
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Cell: +254 723 393 114. Skype Name: Michael Bullut. Twitter: @Kipsang Blog: http://www.kipsang.com/ E-mail: main@kipsang.com
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