Kenyan shilling falls and is expected to weaken further

Kenya’s shilling fell on Tuesday and is expected to continue to weaken in the near term because of persistent foreign-currency demand, traders said.

At 0936 GMT, commercial banks quoted the shilling at 160.00/161.00 per US dollar, compared with Monday’s close of 159.50/160.50.

Kenyan shilling slips on FX demand from importers, manufacturers

One trader said the shilling could stabilise or start to recover once it reaches a range of 165.00 to 170.00 per dollar.