Today like 2 guys tried refusing the old ksh 1000 note. I inform them deadline is over a week away and what am presenting them is legal tender of the Republic of Kenya. I also throw in a threat that it’s a criminal offence to refuse a legal tender in exchange for goods & services. Have you guys started experiencing people already shying away from the old currency?
Also what does the guy who ends up with an old 1k on 30 th September at 10 pm do to have it changed considering Banks are closed and no Mpesa will dare to accept it at such a time? It’s a funny situation because you really can’t refuse it legally as it’s still a legal tender but you also know you won’t have the machinery to exchange before it becomes worthless.
NB: Buy USD now as the value will likely increase against the shilling in the coming weeks. Got an exchange of 1 USD = 103.6 today.
Jana I had a bunch of 1 thousand notes when doing shopping kwa supermarket, all new currency except one and I gave them that old 1k note. There is no way I will be caught holding worthless paper at the end of the month. :D:D:D
For every $100 you stand to make around 300bob if you bought the dollar at 100bob assuming they’ll buy at 103.
So the more dollars you have, the better its gonna be.
Also for long term guys, you can keep the dollars until election year, then enjoy.