NAIROBI: The Kenyan shilling edged down on Tuesday as demand for dollars continued to outweigh the available supply.
At 0735 GMT, commercial banks posted the shilling at 110.95/111.15 per dollar, compared with 110.85/111.05 at the close of Monday.
Kenyan Shilling seen weaker, other African currencies stable
Traders blamed the low hard currency supply to depressed earnings from tourism and other sectors that have been curbed by the COVID-19 pandemic.
"The supply side has remained subdued and as the Kenyan economy re-opens, there is demand for dollars from across all sectors," said a currency trader at a commercial bank.
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