Kenyans flock to dollar ventures as shilling falls

dollar

Dollar denominated products have seen fund managers set up forex investment vehicles in response to the demand. PHOTO | SHUTTERSTOCK

Kenyans have flocked to US dollar-based investments in a move aimed at cushioning them against the effects of a weakening local currency.

The drive towards dollar denominated investment products by both domestic and diaspora investors has seen fund managers set up forex investment vehicles in response to the demand from clients.