Published 2 months ago

Weak shilling leaves Kenyan missions with $5m budget hole

Summary by Ground News

Kenya's missions abroad incurred foreign exchange losses amounting to Ksh761.58 million ($5.22 million) during the 2022/23 financial year. The losses resulted from differences between the quoted exchange rates by the Central Bank of Kenya and transactions made in the host countries. The Kenya shilling recorded a sharp depreciation against major foreign currencies during the period.

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The East African

Weak shilling leaves Kenyan missions with $5m budget hole

Kenya operates 60 diplomatic missions in 55 countries across the globe, and four other permanent missions to the UN in New York, Geneva, Nairobi, and Paris.

2 months ago

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Weak shilling leaves Kenyan missions with $5m budget hole

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Weak shilling leaves Kenyan missions with $5m budget hole

Weak shilling leaves Kenyan missions with $5m budget hole

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