Despite attempts to stabilize its currency through the nationalization of fuel imports, Kenya continues to witness depreciation of the local shilling against the USD. In March, officials introduced a government-to-government fuel importation, yet the shilling fell to 137.7 per USD on Monday. This shortfall has been attributed to the substantial demand for USD from the manufacturing sector and other importing industries. Several FX measures were introduced last month to mitigate depreciation, including imposing penalties on those found to be manipulating the exchange market.