CBK in major operation to stop aggressive dollar bids

Central Bank Governor Dr Kamau Thugge on October 24, 2023. PHOTO | DENNIS ONSONGO | NMG    

By PATRICK ALUSHULA More by this Author

The Central Bank of Kenya (CBK) is holding private meetings with banks to try to

persuade them against aggressive quotes of the dollar in a bid to save the shilling from sliding past the 160 mark to the greenback amid the elevated pressure of servicing external loans.

Multiple sources from the industry who spoke to the Business Daily revealed that the CBK governor Kamau Thugge on Monday met bank CEOs and senior staff from treasury department in which he sought to reassure them of access to dollars so as to avoid making “panic and aggressive bids” on the shilling against the dollar.

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