Kenyan shilling under pressure, tight liquidity helping

NAIROBI: The Kenyan shilling weakened against the dollar on Thursday due to end month demand from oil importers and manufacturers although tight liquidity in the local money markets was seen to be offering support, traders said.

At 0900 GMT, commercial banks quoted the shilling at 101.05/25 per dollar, compared with 100.95/101.15 at Wednesday's close.

The weighted average daily interbank lending rate was quoted at 6.6815 percent on Wednesday, compared with 6.6646 percent in the previous session.