• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Kenya’s Shilling Hits Record Low Of 150 To Dollar

Kenya’s Shilling Hits Record Low Of 150 To Dollar

2 years ago
Mbappe Sick, Hospitalized

Mbappe Sick, Hospitalized

42 minutes ago
A New Dawn for Rivers State

A New Dawn for Rivers State

1 hour ago
William Ruto

Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

14 hours ago
Mudryk: Chelsea Winger Faces Ban For ‘Doping’

Mudryk: Chelsea Winger Faces Ban For ‘Doping’

14 hours ago
Ethiopia Emerges As Africa’s Most Expensive Country To Live In – Report

Ethiopia Emerges As Africa’s Most Expensive Country To Live In – Report

15 hours ago
Friday, June 20, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Uganda: Concerns Rise Over Ageing African Leaders, As 86-Year-Old Deputy PM Gets Nominated For Re-election Inside His Car

    Uganda: Concerns Rise Over Ageing African Leaders, As 86-Year-Old Deputy PM Gets Nominated For Re-election Inside His Car

    Iran War, US Trade War Top Agenda As G-7 Summit Opens In Canada

    Iran War, US Trade War Top Agenda As G-7 Summit Opens In Canada

    Guinea Revokes Mining Concession Over Firm’s Inability To Build Alumina Refinery

    Junta-led Guinea Sets Up Body To Conduct December Elections

    Auto Draft

    Burundi: Outrage As Ruling Party Sweeps All Parliamentary Seats

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

  • Economy
    William Ruto

    Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

    Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

    Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

    West Africa Wants Energy, Minerals Deals With Washington, But Decries Trump’s Ban

    West Africa Wants Energy, Minerals Deals With Washington, But Decries Trump’s Ban

    junta

    Junta-led Burkina Faso, Mali, Niger To Attend West African Economic Summit In Nigeria 

    Mali’s Junta Takes Over Canadian-Owned Gold Mine In Tax Row

    Mali’s Junta Takes Over Canadian-Owned Gold Mine In Tax Row

    Nigeria Still Tops Africa In Oil Production Despite Output Dip - OPEC

    Nigeria Still Tops Africa In Oil Production Despite Output Dip – OPEC

    Ghana Suffers $11B Gold Smuggling Blow With Reported Ties To UAE

    Ghana Suffers $11B Gold Smuggling Blow With Reported Ties To UAE

    AfDB Approves $184M For Egypt To Construct Africa’s Largest Solar Plant

    AfDB Approves $184M For Egypt To Construct Africa’s Largest Solar Plant

    Mali Relies On Russia’s Partnership To End Export Of Raw Gold

    Mali Relies On Russia’s Partnership To End Export Of Raw Gold

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Uganda: Concerns Rise Over Ageing African Leaders, As 86-Year-Old Deputy PM Gets Nominated For Re-election Inside His Car

    Uganda: Concerns Rise Over Ageing African Leaders, As 86-Year-Old Deputy PM Gets Nominated For Re-election Inside His Car

    Iran War, US Trade War Top Agenda As G-7 Summit Opens In Canada

    Iran War, US Trade War Top Agenda As G-7 Summit Opens In Canada

    Guinea Revokes Mining Concession Over Firm’s Inability To Build Alumina Refinery

    Junta-led Guinea Sets Up Body To Conduct December Elections

    Auto Draft

    Burundi: Outrage As Ruling Party Sweeps All Parliamentary Seats

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

  • Economy
    William Ruto

    Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

    Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

    Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

    West Africa Wants Energy, Minerals Deals With Washington, But Decries Trump’s Ban

    West Africa Wants Energy, Minerals Deals With Washington, But Decries Trump’s Ban

    junta

    Junta-led Burkina Faso, Mali, Niger To Attend West African Economic Summit In Nigeria 

    Mali’s Junta Takes Over Canadian-Owned Gold Mine In Tax Row

    Mali’s Junta Takes Over Canadian-Owned Gold Mine In Tax Row

    Nigeria Still Tops Africa In Oil Production Despite Output Dip - OPEC

    Nigeria Still Tops Africa In Oil Production Despite Output Dip – OPEC

    Ghana Suffers $11B Gold Smuggling Blow With Reported Ties To UAE

    Ghana Suffers $11B Gold Smuggling Blow With Reported Ties To UAE

    AfDB Approves $184M For Egypt To Construct Africa’s Largest Solar Plant

    AfDB Approves $184M For Egypt To Construct Africa’s Largest Solar Plant

    Mali Relies On Russia’s Partnership To End Export Of Raw Gold

    Mali Relies On Russia’s Partnership To End Export Of Raw Gold

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Kenya’s Shilling Hits Record Low Of 150 To Dollar

October 23, 2023
in Economy, Top Stories
0
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By Enyichukwu Enemanna

The Kenya’s official currency, shilling on Monday dropped to a new all-time low, exchanging 150 to the dollar, putting more pressure on the economy where the people have been confronted by growing inflation amidst raft of new taxes by the government.

Relatedreading

Mbappe Sick, Hospitalized

A New Dawn for Rivers State

The shilling has been in decline for several years and plunged by almost 24 percent over the past year.

Kenya has been dealing with pressure from high debt profile and dwindling government revenues.

According to data from the Central Bank of Kenya, the dollar was selling at over 150 shillings, although some commercial banks and foreign exchange bureaux have been trading it at that level or higher in recent weeks.

Ken Gichinga, chief economist at Mentoria Economics, told AFP the exchange rate reflected the strengthening of the dollar during the Middle East crisis “which is pushing investors to safe-haven assets”, as well as high US treasury yields.

Kenya had accumulated more than 10.1 trillion shillings ($67 billion) in debt by the end of June, according to Treasury figures, equivalent to around two-thirds of gross domestic product.

The cost of servicing the debt, mainly to China, has increased as Kenya’s currency has slumped, and the government also has a $2 billion eurobond falling due in June next year.

President William Ruto earlier this year introduced a range of new and increased taxes to help generate revenue.

Ruto had during last year’s election promised to help ease the financial hardship of ordinary Kenyans, a promise he has failed to keep.

Inflation has remained high, at an annual rate of 6.8 percent in September, with food and fuel prices still on the rise.

Tags: breakingCentral Bank of Kenya (CBK)Heritageheritage timesheritagetimesmediahtKenya's Debt ProfileKenya's Shillinglatestnewsthe heritage timesthehtafricathtthtafricatop stories
ShareTweetSend
Previous Post

Nigeria’s Enyimba Lose, Walk Tight Rope In African Football League

Next Post

Nigeria: Tinubu Sets January Take Off Date For Students’ Loan Scheme

Related Posts

Mbappe Sick, Hospitalized

Mbappe Sick, Hospitalized

June 20, 2025
A New Dawn for Rivers State

A New Dawn for Rivers State

June 20, 2025

Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

Mudryk: Chelsea Winger Faces Ban For ‘Doping’

Ethiopia Emerges As Africa’s Most Expensive Country To Live In – Report

Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

Next Post
Nigeria: President Tinubu Approves Partial Release Of Withheld ASUU Members’ Salaries

Nigeria: Tinubu Sets January Take Off Date For Students' Loan Scheme

Leave a Reply Cancel reply

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

AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Mbappe Sick, Hospitalized

Mbappe Sick, Hospitalized

June 20, 2025
A New Dawn for Rivers State

A New Dawn for Rivers State

June 20, 2025
William Ruto

Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

June 19, 2025
Mudryk: Chelsea Winger Faces Ban For ‘Doping’

Mudryk: Chelsea Winger Faces Ban For ‘Doping’

June 19, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Mbappe Sick, Hospitalized

June 20, 2025

A New Dawn for Rivers State

June 20, 2025

Kenya: Parliament Passes Proposed 2025 Finance Law, Denies KRA Access To Taxpayers’ Data

June 19, 2025

Mudryk: Chelsea Winger Faces Ban For ‘Doping’

June 19, 2025

Ethiopia Emerges As Africa’s Most Expensive Country To Live In – Report

June 19, 2025

Nigerian Govt Launches 14-Man Task Team To Tackle Building Collapse Crisis

June 19, 2025

8th CHAN: CAF Unveils Match Venues

June 19, 2025

Libya: Crisis Hits Tripoli Derby As Fans Invade Pitch, Set Vehicles On Fire

June 19, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Nigeria @ 64: Meet Young Luminaries Leading Social Transformation

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In