We expect dollar demand to drop as minor currencies strengthen, "Derrick Memba, a money market expert told the Star on phone. A stronger shilling will help reduce pressure on the prices of imported foodstuff, machinery imports, fuel, fertiliser and other commodities. The cumulative inflows also recorded a 1.5 per cent growth in the 12 months to June totaling $2.809 billion (Sh303.5 billion) compared to $2.768 billion (Sh299.1 billion ) in the 12 months to June 2019. Inflows from the US, South Africa, and Saudi Arabia recorded the highest increases in the 12 months. Financial experts have tipped CBK is likely to ride on forex reserves to stabilise the shilling below 107 units.

Source: The Star August 25, 2020 00:56 UTC