NAIROBI: Kenya’s shilling held steady against the dollar on Tuesday, but traders said it was likely to weaken due to increased demand for dollars from the manufacturing sector.

At 0735 GMT, commercial banks quoted the shilling at 123.60/80 per dollar, compared with Monday’s closing rate of 123.55/75.

Kenya’s shilling weakens to new all-time low against the dollar

Earlier on Tuesday, the shilling hit a new all-time low of 123.70/90 per dollar before trimming the loss, Refinitiv data showed.