Kenyan shilling eases in slow trade

NAIROBI: Kenya’s shilling weakened on Tuesday, although traders said activity was slow due to a lull during the holiday period.

At 0714 GMT, commercial banks quoted the shilling at 156.70/157.70 per dollar, compared with Friday’s closing rate of 156.50/157.50.

Kenyan shilling stable; seen gaining ground on more dollar inflows

Typically the shilling weakens due to demand for dollars from sectors such as energy, manufacturing and telecoms, and gets support from inflows from remittances, agricultural produce and tourism.