Kenya: Experts Warn Kenyan Shilling to Slide to Ksh135 Against U.S. Dollar on Oil Surge

The Kenyan shilling is under serious pressure, with experts from major global banks now warning it could weaken to Ksh135 against the U.S. dollar if oil prices stay elevated, a level the currency has not touched in two years.

According to expert strategists at Citigroup and Societe Generale (SocGen), the Kenyan shilling is presently at a very precarious point, drawing to rising global oil prices as the primary driver.

They term Kenya imports nearly all of its fuel, meaning every spike in…