Kenyan shilling weakens to fresh low

Kenya’s shilling weakened on Thursday to a fresh low as month-end demand for dollars weighed on the local currency, which has been under sustained pressure from oil importers and the manufacturing sector.

At 0945 GMT, commercial banks quoted the shilling at 138.15/138.35 per dollar - its lowest ever level - compared to Wednesday’s close of 138.00/138.20.

Kenyan shilling stable; to weaken due to increased importer demand

The shilling is down over 10.7% against the dollar this year, Refinitiv data showed.