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{
    "id": 1342542,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1342542/?format=api",
    "text_counter": 145,
    "type": "speech",
    "speaker_name": "Kiambu, UDA",
    "speaker_title": "Hon. John Waithaka",
    "speaker": null,
    "content": " Hon. Speaker, could the Cabinet Secretary – (a) state the volume of United States Dollar (USD) reserve held by the Central Bank of Kenya and each of the commercial banks in the country and confirm whether the high volume of USD believably being hoarded by commercial banks accounts for the spiralling exchange rate that has hit an all-time high? (b) explain why the rate of exchange for purchasing the USD from forex bureaus and commercial banks is as high as Kshs141 and Kshs146 per unit respectively, yet the indicative exchange rate set by the Central Bank of Kenya is Kshs129.52 per unit, translating to a difference of almost Kshs15 per unit against the CBK rate? (c) explain what measures the Ministry has put in place to resolve the shortage in Dollar supply, lower the exchange rate, cushion importers from loss of money due to the high Dollar exchange rate and to avoid the proliferation of black money exchange markets?"
}