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Markets

Kenyan shilling slumps to record low for third day

Published Updated

kenyan_shillingsNAIROBI: The Kenyan shilling slumped to a record low against the dollar on Thursday on the back of euro weakness, traders said, and the local currency has now fallen more than 3 percent this week.

The shilling traded at a new low of 98.20 in early trading after setting record lows of 97.20 on Wednesday and 96.11 on Tuesday. The central bank sold dollars in the market on Wednesday to try and curb the fall.

Copyright Reuters, 2011

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