Kenyan shilling posts strongest single-day gain in 12 years

The Kenyan shilling posted its strongest intra-day gain against the US dollar in 12 years yesterday, as it aggressively turned tables against the greenback, reaping from a tide of investor confidence after the government received significant inflows to pay off the $2 billion Eurobond.

The dramatic gain pushed the local unit to its strongest level since November last year while wiping out all the losses this year.

Equity Bank quoted the dollar yesterday at Sh153.75, while KCB had a quote of Sh157.5, the highest among eight banks tracked by the Nation.

Forex bureaus were selling the dollar at between Sh152 and Sh157. On Tuesday, the CBK had quoted the local unit at Sh156.7 against the US dollar.

The record appreciation of the greenback is set to lower import costs in local currency terms as importers are required to part with less shillings for the same volume of goods ordered.

For the government, a stronger shilling will lower debt service costs with the National Treasury equating the movement of the currency by a single unit to impact debt service costs by Sh40 billion.

With the shilling gaining by Sh3.62 against the US dollar in the week to Tuesday, Kenya’s debt service costs have been trimmed by Sh144.8 billion in just seven days.

Holders and earners in US dollars have nevertheless realised paper losses with holdings/earnings of $10,000 for instance falling from Sh1.6 million to Sh1.5 million over the same period representing paper losses of Sh100,000.

Kenya’s move to buy back part of its Sh313 billion ($2 billion) Eurobond notes maturing in June has settled investor nerves, anchoring the multi-day shilling rally by propping foreign currency inflows. Last week, Kenya finally made good on its promise to buy back part of the Sh313 billion Eurobond notes maturing in June this year as part of a liability management operation that seeks to reduce the outsized redemption of the country’s inaugural Eurobond.

At the same time, Kenya, through lead managers Citi and Standard banks, concurrently issued a new Eurobond that has since raised Sh235.05 billion ($1.05 billion) from whose proceeds are expected to meet payments from the early Eurobond buyback.

According to analysts, the expected partial buyback, whose outcome will be known this Friday, has been a huge relief for nervy investors with the June maturity having been seen as an Achilles heel for the Kenyan economy and a drag on potential portfolio flows from foreign investors.

Foreign investors have subsequently responded with a reallocation of capital back to the domestic market with the substantive inflows being seen in bids to the February infrastructure bond auction which closed yesterday, raising Sh240.9 billion for the exchequer.

“There is a general increase in the supply of dollars which I view as a sentiment driven phenomenon. This follows the partial Eurobond buyback, which ratings agency S&P Global noted as an action in distress,” Standard Investment Bank Sen

AM Live

AM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.


Business Redefined

Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.


A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Full Episodes

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Gumzo La Sato

Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.

Health Diary

Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.

Letter To My Younger Self

Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.

Mazao Talks

Mazao looks at agriculture and agribusiness

Nation Reports

Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.

One Health Lens Podcast

Discussing health matters and human stories from Kenya and across Africa. We talk big picture from people to policy, ecosystems, and everything in between. Follow us on LinkedIn: https://www.linkedin.com/company/onehealthlens

Paradise Lost

Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.



Speaking of GEN Z

Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.

Sport On

Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.


The extent of technological growth is beyond mere acknowledgment; it has seamlessly integrated into our daily existence. A few years ago, the notion of paying electricity bills through mobile money or recharging with 'tokens' in Kenya seemed inconceivable. Online product sales were considered distant, and artificial intelligence is rapidly reshaping various facets of our lives. Amidst these technological leaps, those with a solid understanding of tech can navigate challenges, seize opportunities, and build a sustainable livelihood. Tech over Show aims to be the platform facilitating discussions among thought leaders, innovators, tech companies, and the government, addressing challenges and opportunities in Kenya's thriving tech industry.


Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.

The Politalk podcast

This is The Politalk podcast. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.

The Trend

A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.

The trend podcast

The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA

The Wicked Edition

The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience


A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula


Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.


This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.

VIP Access

VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.


This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.

When death do us part

In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.

Your World

Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.