Dollar Shortage Hits Motorists and Traders in Kenya DeutscheWelle: Kenya
, the most dynamic economy in East Africa, has a shortage of dollars. Most fuel and oil importers claim they cannot import the commodities because of the dip in the supply of foreign exchange.
Because Kenya's oil and fuel importers use US dollars to buy fuel, the forex shortage has had a direct impact on the country's fuel supplies, and by extension, the country's supply chain. Kenya's declining forex reserves -- which have hit 8-year lows -- has also put the Kenyan shilling under intense pressure against other major currencies.
"The prices have really shot up not because the prices in Japan or the other side have gone very high but because of the dollar, the exchange rate," he told DW.
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