The current heavy rains might have left a lot of destruction, but they are expected to help strengthen the Shilling against other major currencies.

The heavy downfall is expected to increase food production this year, eliminating the need for food importation by the government.

Traders at Citibank also say that the current rainfall could help reduce demand for the dollar as oil importers reduce their imports due to anticipated increase in electricity generation from dams as opposed to fuel powered electricity generators. Fuel imports are transacted in dollars.

Courtesy of Business Daily