JUST IN: Why the Govt Won’t Let the Shilling Appreciate Too Much – CS Mbadi Explains 

  Treasury Cabinet Secretary John Mbadi has defended the government’s decision to prevent the Kenyan shilling from appreciating too much against the US dollar. Speaking before the Parliamentary Budget and Appropriations Committee on Thursday, March 27, Mbadi cautioned that an overly strong shilling could harm the country’s export sector. He warned that if exports decline, Kenya’s foreign exchange reserves would take a hit, increasing the country’s economic vulnerability. “We cannot allow the shilling to appreciate too much; we assess that the shilling at 130 units is the most reasonable for our economy because if you make the shilling too strong, you
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