Back and Stronger: Shilling Hits a Two-Year High of 99 Shillings to the US Dollar

The Kenyan shillings has continued to prove critics wrong by gaining traction against the US Dollar, trading at an all-time high 99 shillings in two years.

By the time of going to the press, the shilling was trading at 99.90 shillings against the US dollar on Monday.

The shilling sustained its bullish against the dollar as a result of more supply that continued to outweigh demand.

The tax amnesty issued by the Kenya Revenue Authority has helped to skyrocket the shilling against the dollar. The amnesty which is given to income earned outside the country comes to an end in June.