The Kenyan Shilling has weakened significantly following a series of week-long anti-tax protests. These protests have created economic uncertainty, affecting investor confidence and leading to a depreciation of the local currency. The public demonstrations were driven by widespread dissatisfaction with the government’s tax policies, which are perceived to increase the cost of living and economic burden on citizens.

As a result, the foreign exchange market has seen increased volatility, with traders and investors seeking safer assets, thereby putting downward pressure on the Kenyan Shilling. This depreciation can have various economic implications, including increased costs for imported goods and potential inflationary pressures. The situation highlights the interconnectedness of political stability and economic performance, underscoring the need for effective governance and responsive economic policies to maintain currency stability.