Kenya’s shilling weakens due to high dollar demand from importers

NAIROBI: Kenya’s shilling weakened on Friday due to increased demand for dollars from general goods importers, while inflows from non-governmental organisations cushioned it from easing further, traders said.

At 0734 GMT, commercial banks quoted the shilling at 128.75/129.75 per dollar, compared with Thursday’s closing rate of 128.50/129.50.

Kenyan shilling weakens, pressured by dollar demand from oil firms

Traders said there was no immediate reaction to President William Ruto dismissing all but one of his ministers on Thursday, yielding to one of the demands from nationwide protests that have created the biggest crisis of his two-year presidency.