[Source: Business Daily, by Timothy Odinga]
The amount of cash circulating outside the banking system and in people’s pockets hit a 13-month high in June, defying Covid-19 economic hardships.
Central Bank of Kenya (CBK) data shows that cash outside banks rose from Sh197.86 billion in May to Sh210.8 billion in June—marking the first time it has crossed the Sh200 billion mark since May 2019 when Kenya retired old Sh1,000 banknotes.
The jump in circulation came in a month when Kenya eased Covid-19 restrictions, reducing the…
