NAIROBI: Kenya’s shilling weakened on Friday due to increased importer demand for hard currency, especially from oil companies, and low dollar inflows, traders said.
At 0727 GMT, commercial banks quoted the shilling at 115.90/116.10 per dollar, compared with Thursday’s closing rate of 115.75/95.
Kenyan shilling hits new all-time low; to ease due to importer demand
Technical analysis of the shilling’s 14-day and 50-day weighted moving averages shows it is expected to keep weakening in the near term.
Comments
Comments are closed.