Kenyan shilling weakens as increased importer demand weigh

Kenya’s shilling weakened on Monday, due to increased demand for dollars predominantly from oil importers, traders said.

At 0757 GMT, commercial banks quoted the shilling at 124.35/55 per dollar, compared with Friday’s close of 124.30/50.

Kenyan shilling stable; to weaken due to increased importer demand

After hitting a series of new lows last year, the shilling has come under pressure this year as well and that trend is set to continue this week, traders said.