For 27 months the Kenyan shilling has hovered around Sh129 per US dollar, and the Central Bank of Kenya quoted Sh129.89 on Friday, extending a low-volatility phase that began in July 2024. That is a sharp improvement from about Sh160.8 in January 2024, when imported fuel, food and machinery were costlier. Analysts link the stability to a February 2024 $1.5 billion Eurobond that let the government repurchase most of a $2 billion maturing bond, while the central bank credits steady inflows from remittances, farm exports and foreign-reserve buffers. However, rising global oil prices from Middle East tensions lifted pump prices in October and limit how far the stable rate can lower consumer prices. A $100,000 import would now cost about Sh12.99 million rather than the roughly Sh16.08 million at the January rate, saving around Sh4.09 million before other charges.
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