Kenyans in Kuwait Celebrate High Exchange Rates on TikTok

Kenyans employed in Kuwait have turned to TikTok to express their joy over the increasing exchange rate which they say they are benefiting from.

In a widely popular TikTok video, an individual from Kenya expresses his delight over the present exchange rate, resulting in a joyful trip to the bank. With a touch of humour, the individual playfully emphasizes the irony of Kenyans complaining about the economic crisis while they, themselves, bask in the pleasures of working in Kuwait. The comments section has become a hub for Kenyan workers in the Gulf nation, echoing similar sentiments and even seeking opportunities for employment in the same country.

Other Kenyans residing in Kuwait are also thrilled about the country, particularly the delectable dishes they offer. Furthermore, Kenyans in Kuwait are relishing their employment in the nation due to its robust currency, which is a result of the country's economic stability.

Meanwhile, the shilling's decline in value against the dollar has decelerated significantly, reaching its slowest pace since the start of the year. This indicates a decrease in demand for the shilling and an increase in the supply of dollars in the economy. According to data from the Central Bank of Kenya (CBK), the shilling has, on average, depreciated by three cents against the dollar since the beginning of December.

This is a notable improvement compared to the average daily loss of 12 cents in November and 13 cents in October. The stability has also had an impact on the retail market, as the selling rate for the dollar has remained relatively stable, fluctuating between 150 and 160 units of the local currency since mid-August.