Kenyan exporters are experiencing mixed fortunes from the weakening shilling as the exchange rates remain unpredictable. On one hand their exports are earning highly while trading with the major currencies, the US dollar and Euro. But on the other hand, the weak shilling has led to sharp increase in the price of raw materials which are mainly imported.
Players in the flower, tea and coffee sectors say there is nothing much to celebrate about the situation, particularly in the long term as their short term gains are eroded. “Indeed, with the loss in value of the shilling, exporters are getting more for each dollar they export. This translates to higher Kenya shillings earnings for exporters.