The treasury and CBK is to blame for persistent depreciation of the Kenyan shilling against the US dollar. It has come out clearly with the blame game going on between these two institutions. This can be termed as being irresponsible. Mr Njunguna Ndungu's assertion that specific commercial banks are responsible for the depreciation is a clear indication of irresponsibility on the part of CBK. I wonder whether it is the CBK that controls and regulates the activities of the commercial banks or it is the other way round? With all this gong on, it is the ordinary citizen that is feeling the effect of the depreciation through high prices of basic commodities.
It is high time corrective measures are put in place and implemented to curb this problem before it gets out of hand. The relevant stakeholders should take the responsibility to handle this case in order to save our economy from the current unpleasant condition.
