Shilling to get respite from oil pact — CBK boss

Shilling to get respite from oil pact — CBK boss

Kenya’s move to import oil from the United Arab Emirates and Saudi Arabia on credit and payment made in the local currency is expected to ease pressure on the country’s forex reserves as well as stabilise pump prices. The six-month oil deal will also save the shilling from falling further as there will be a declined demand for US dollars, in particular by oil importers.

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