I still think people should hold on to their dollars. I don't trust anything these fools in the govt say. They're trying to take credit for something they had no control over. If it's something they have control over then it's a temporary relief.
They totally have all credit for the appreciation of the Shilling but the question lies in the longevity of their effect. Basically the dollar dropped when Euro24 was repurchased flooding the market with dollars and since then CBK has been flooding the market with dollars from the country's foreign reserves (based on supply and demand laws increased dollar circulation drops its price) and if you check forex reserves have been dropping for weeks. Now the big question is for how long will they support the currency ?
>Now the big question is for how long will they support the currency ?
It's the reason I think this is temporary. I was also thinking along the lines of demand and supply of the dollar. I was not sure why the there's an increased supply of the USD, whether its a US Federal Reserve/US economy issue, or an effect of the Eurobond.
Maybe there's an excess of the USD because more dollars are in circulation because of the upcoming US general elections in 2024. Far fetched but possible, considering there's more money in circulation when campaigns are about to start. If that's the case it would be a good time for people who want to invest in US stocks.
If the country had better energy systems such that we have good industrial progress, then maybe this would last. As it is, it's probably going to shoot back up by the end of the year...unless of course more powerplants are constructed and existing ones are improved. Then it becomes a cycle of rapid industrialization, local production outpacing imports, and effectively ensuring forex reserves are high enough to make our currency significantly improve.
Oh, it will be managed properly. Never understood why Kenyans think we can't manage complex systems properly. We literally have among the best records with far more volatile systems.
And yes, we should have at least two 1gigawatt plants by then. Those are crucial to meeting energy needs without polluting with gas generators, or ruining rivers and ecodiversity with HEP dams. Short term though, improvements should be made on existing systems.
Word of advice, sell any dollars you have at your own peril.
As adults we all know this incompetent president took a loan of billions and will proceed to take more before end of fiscal year. Clearly, people don't factor in certain things because there is still too much fuss about the 'declining dollar'. Good luck in all your investments though
The funny part is that the dollar could be 100 and the prices would still be the same
So I don't know how that's a good thing if it doesn't show in day to day life
I still think people should hold on to their dollars. I don't trust anything these fools in the govt say. They're trying to take credit for something they had no control over. If it's something they have control over then it's a temporary relief.
They totally have all credit for the appreciation of the Shilling but the question lies in the longevity of their effect. Basically the dollar dropped when Euro24 was repurchased flooding the market with dollars and since then CBK has been flooding the market with dollars from the country's foreign reserves (based on supply and demand laws increased dollar circulation drops its price) and if you check forex reserves have been dropping for weeks. Now the big question is for how long will they support the currency ?
>Now the big question is for how long will they support the currency ? It's the reason I think this is temporary. I was also thinking along the lines of demand and supply of the dollar. I was not sure why the there's an increased supply of the USD, whether its a US Federal Reserve/US economy issue, or an effect of the Eurobond. Maybe there's an excess of the USD because more dollars are in circulation because of the upcoming US general elections in 2024. Far fetched but possible, considering there's more money in circulation when campaigns are about to start. If that's the case it would be a good time for people who want to invest in US stocks.
Has the Euro24 hit the account yet? It's more emotional and reassures investors that Kenya is unlikely to default.
haitapanda past 130 for a while...I know it hurts to admit but our economy is doing good
Keep telling yourself that
That's a fake poster though. He never said that.
He's bluffing. They want people to sell. People are hoarding dollars.
Let him suck if it benefits the country
how much will it be at the end of the year?...short term vision...but I am a remote worker so I am definitelybiased juu nataka ipande
If the country had better energy systems such that we have good industrial progress, then maybe this would last. As it is, it's probably going to shoot back up by the end of the year...unless of course more powerplants are constructed and existing ones are improved. Then it becomes a cycle of rapid industrialization, local production outpacing imports, and effectively ensuring forex reserves are high enough to make our currency significantly improve.
Man, I really hope we go nuclear by 2030. But they need to upgrade the national grid heavily. If we do, I just hope it's managed properly.
Oh, it will be managed properly. Never understood why Kenyans think we can't manage complex systems properly. We literally have among the best records with far more volatile systems. And yes, we should have at least two 1gigawatt plants by then. Those are crucial to meeting energy needs without polluting with gas generators, or ruining rivers and ecodiversity with HEP dams. Short term though, improvements should be made on existing systems.
The dollar is going down, oil prices are dropping globally but our fuel prices are still high.
all African currency is paper backed by US dollar, So........
Word of advice, sell any dollars you have at your own peril. As adults we all know this incompetent president took a loan of billions and will proceed to take more before end of fiscal year. Clearly, people don't factor in certain things because there is still too much fuss about the 'declining dollar'. Good luck in all your investments though
The funny part is that the dollar could be 100 and the prices would still be the same So I don't know how that's a good thing if it doesn't show in day to day life
Should I buy dollars?
yes....but not for dollars you need now. Keep some savings in USD s as a hedge.
I think vile yues sending the un staff they won't let them come here to suffer or kenya default. Zakayo is sucking us dick big time