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We Will Bring Dollar to Sh85, Ruto's Admin Reveals Ambitious Plan to Lower Dollar from sh130 to sh85

Trade Cabinet Secretary, Moses Kuria revealed President William Ruto's plan to bring down the US dollar-Kenyan shilling exchange rate.

The Kenyans shilling has been shrinking against the US dollar, thus pilling pressure on the Kenyan economy especially on imports which translates to high cost of selling products. In the recent days, the US dollar against the Kenyan shilling hit a record high of sh 132 which means that the Kenyan currency was losing value in comparison with the international dollar.

In a move to ensure stability of the Kenyan shilling, Ruto's administration through Trade CS Moses Kuria has explained that the Kenya Kwanza government will use the balance of trade and delayed debt payment as key instruments in lowering the exchange rates.

This move will see Kenya substantially stabilize the shilling against the dollar and reduce the pressure it has been pilling on the Kenyan economy. His Energy counterpart, Davies Chirchir, also said that if this is achieved, Kenyans will get affordable fuel and the exchange rate is drastically reduced.

"My distinguished colleague Davies Chirchir is working hard to restructure the fuel supply chain in order to ease the pressure on the Shilling. He is imminently succeeding after which I see an exchange rate of Ksh85 to the dollar," Kuria detailed.

This new promise by the Ruto administration comes barely a day after he said that his government will lower the cost of cooking gas from the current Ksh 2800 to as low as Ksh 300. Ruto also yesterday retaliated that he will be constructing 100 major dams and over 1000 small dams to preserve the water and use it to put more land under irrigation.

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Davies Chirchir Energy Kenyan Moses Kuria US


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