Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 120231,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/120231/?format=api",
    "text_counter": 164,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "Mr. Deputy Speaker, Sir, the decline or appreciation of the US Dollar against the Kenya Shilling was a result of the appetite for people to invest in dollars. People were taking dollars and because of that, the currencies depreciated their values. This is part of what was called the toxic assets. When people realized that the dollar was actually speculative and that it was not such a safe asset to invest in, people started withdrawing from the dollar. Some were going to invest in gold. You heard the case in Indonesia of 21 tonnes of gold. As a result of this, the Kenya Shilling is correcting itself to the pre-crisis level. This is a correction which is happening as a result of the global process of movement of currencies in the whole world. Therefore, the Kenya Government does not even need to take any specific measures to protect itself. This is a correction. Before the crisis started, the Kenya Shilling was at Kshs75 to the US Dollar. It then shot up to Kshs80 to the US Dollar. However, because of the correction and people withdrawing their appetite from the toxic asset, it has more or less come back to where it was. We are simply monitoring and cushioning our shilling against dependence on the dollar or any other single currency."
}