Kenyan shilling weakens against dollar on oil importer, manufacturing demand

NAIROBI: The Kenyan shilling fell against the dollar on Tuesday, as hard currency supplies from the diaspora failed to match demand from oil importers and the manufacturing sector, traders said.

At 0631 GMT, commercial banks quoted the shilling at 149.40/149.60 per US dollar, compared with Monday’s closing rate of 149.20/40.

Kenyan shilling stable; seen weakening on higher importer FX demand

The shilling touched a new all-time low of 149.50/70 on Tuesday morning. It has depreciated 17.5% against the dollar since the start of the year, according to LSEG data.