Wealthy Kenyans stockpile Sh1.5trn in dollar accounts

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Wealthy Kenyan households and companies have stockpiled a record Sh1.52 trillion in foreign-currency deposits in commercial banks as they seek safety for their savings in dollars.

Data from the Kenya National Bureau of Statistics (KNBS) show that foreign-currency deposits in dollars, euros and the British pound grew by Sh240.57 billion over the past year, making it the biggest annual jump in years.