Business Daily | by Patrick Alushula
The shilling hit a new historic low on Monday to trade at 109.23 units to the US dollar, signalling rising costs of imports of raw and finished goods such as petroleum products, wheat, vegetable oil and motor vehicles.
The local currency has come under pressure in recent months as demand for dollars surged in a period that has seen supply of dollars get squeezed by lack of tourists and a reduction in exports of other commodities…
