With all honesty, the authorities need to check the situation. otherwise once we hit 90, things will be very difficult for a vast majority.

Is there some kind of offshoring of Kibaki-made wealth going on? I can't believe that the rise is all related to CBK buying fx or oil buying.

It does trash Kibaki's economic record especially given concurrent action on the inflation front.

I'd go as far as to say that its time to consider capital controls. This might not favor those who are offshoring.

Great boon for Kenyans in the diaspora though. And our exporters.

I agree with @jungs, that we need to fix this UK fellow.

We were doing very well without IMF then the fellow rushed for loan huko now they are calling the shots eti we must increase our bank lending rates, we must increase our FX reserves to cater for 4 months FX needs etc..... The Good prof has had to get into the market to buy the green back to shove up his strongroom knowing very well there is not suffeceint greenbacks! Then he chungulias from his office window and says ' CBK will not interfere with the market' He must shield the useless decisions his boss made! Me Say UK, Treasury and the MPC should be investigated for such a useless move. What they have created is a volatile shilling that has brought about panic buying of the USD. Meanwhile, his Bank, increased its base landing rate yesterday in line with IMF demands.... Oh, I forgot, the fellow reads a budget that has so huge a deficit that can only lead to increased borrowing! We all know how it ends..... Me and you being pushed bcak into loan defaults just that now there is the CRB and once you make a mark there, you will be dealing with shylocks for 7 years......SK! ( Shenzi Kabisa)

ANd he as the guts to ask me for a vote..... Hana aibu!

Most financial analysts point to MENA, but I think that's not entirely true. Some intense CBK manufacturing going on in the background if you ask me...

And in the same breadth he also says

I seriously think someone is not doin his/her job correctly.

The importation of wheat and maize has led to high demand for dollars,thus weakening the shilling.
Plus many other reasons.

But the technocrats in treasury and CBK know the effect of a weak shilling on the poor( of which Kenya's majority are.) They know the effect of such policies on the economy.

But their response is wanting. There is no urgency in tackling this sad reality. The shilling has been weakening day by day, but we are yet to see any serious interevention that is going to cushion the common mwananchi.

We have crossed the Rubicon. Already past 90.50

http://www.xe.com/curren...&to=KES&view=1D

Long term not good. But service exporters are making a killing. Goods exporters too though tempered by the cost of fuel and freight.

The best option available right now is to PEG the Kenya shilling to the dollar.