A Dutch publication is predicting continued surge by the Kenya shilling against the US dollar, linking the rapid recovery of the Kenyan current to President William Ruto’s call for de-dollarisation of African economies.

However, other than the political rhetoric, the English version of the Post  does not provide other evidence to back up the projection and impact of the political rhetoric.

“In a new set of currency war developments, the US dollar seems to be losing its grip in Kenya. The Kenyan Shilling is rising high in valuation compared to the USD. The Kenyan shilling is rising rapidly, challenging the US dollar’s stark dominance over the region. With calls for de-dollarisation echoing high, the USD stands at a sharp threshold that may end up destabilising its economic prestige,” says the Post.

As of March 21, the Kenyan currency was exchanging at 143/133 to the dollar, an 18 per cent recovery in the past three weeks when the shilling traded 162/161 to the dollar in the foreign currency markets.

The Central Bank of Kenya is confident the local currency ascendancy will continue in the coming because of subdued demand for the green buck and increased remittances of dollars by the diaspora population.

The Kenyan shilling is gaining considerable strength against the US dollar, spearheaded by President Ruto’s strategic economic leadership, according to the Post.

The publication reports, “Kenya is undergoing a radical economic and administrative shift. The president of the country, Willian Ruto, is setting a new stage for economic development to take place. This new change is set to shake the economic strata of the region and help build resilience against strong global market forces.”

“Through targeted measures such as bolstering foreign policy to attract foreign investments fostering a competitive business environment. By implementing proactive strategies to combat unemployment. Ruto’s administration is steering Kenya towards a path of sustainable growth and prosperity for its posterity,” the Post quotes financial expert Kinuthia Pius, as saying.

The rise of the Kenyan shilling brings forth a wave of relief for its citizens, Kenyans have long been battling inflation as of late. President Ruto’s new economic reforms, the paper say, have been the driving force behind the recent strengthening of the shilling against the dollar.

It says further without elaborating that Kenya’s foreign reserves have been noted as fuelling the valuation of shilling. Kenya is also undergoing changes in economic and foreign policies, which is conducive to fostering the region’s holistic growth.

Deemed a robust economic rebound, the Kenyan shilling’s win against the dollar is ushering in a new era for its citizens in particular.

“The strengthening of the shilling against the US dollar and a reduction in fuel prices stand as a true testament. To the prudence of fiscal interventions by the Kenya Kwanza government.” Pius reiterated.

Additionally, the calls referring to the dollar as a weak currency have also intensified lately. With the elements of de-dollarization catching pace, the USD seems to be grappling with trouble from all sides.

• A Tell report