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{
    "id": 374786,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/374786/?format=api",
    "text_counter": 486,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Speaker, some emerging issues have made it necessary that amendments are made. One of them is that our commercial activities are increasingly becoming global. We are trading with many countries. We want US Dollars and they want Kenya Shillings. So, there is a new matter that this Bill seeks to introduce. It seeks to bring a framework for future market, which is a new concept. I want to thank CMA for being proactive so that before this matter picks up, they will already have introduced the framework. More than a year ago, this House constituted a select committee to deal with the depreciation of the Kenya Shilling. During that time, the local currency depreciated from an exchange rate of about Kshs70 to the US Dollar to Kshs90, which subsequently appreciated and stabilised at about Kshs80 to the US Dollar. Those are the challenges that investors face."
}