Arab Today, arab today kenyan currency down 30as prices skyrocket
Last Updated : GMT 08:44:49
Arab Today, arab today
Arab Today, arab today

Kenyan currency down 30 % as prices skyrocket

Arab Today, arab today

Arab Today, arab today Kenyan currency down 30 % as prices skyrocket

Nairobi - Spa

Kenya\'s currency is in a free fall against the dollar, dropping 30 percent this year to an all-time low. That has increased prices of food and fuel across the country and has pushed more Kenyans closer to poverty, AP reported. Flour, sugar, the cost of a bus ticket - they\'re all rising rapidly in what is supposed to be East Africa\'s premier economy. The Kenyan shilling is the worst-performing currency in the world this year, according to data compiled by Bloomberg News. On Tuesday the currency touched an all-time low of 104 shillings to the dollar. In January it was about 80 shillings. Kenyan exports - which include tea, coffee and flowers - will do well with the shilling\'s decline. But economists say Kenyan consumers face rough times.

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