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Kenya’s shilling weakened on Monday, due to increased demand for dollars predominantly from oil importers, traders said.
At 0757 GMT, commercial banks quoted the shilling at 124.35/55 per dollar, compared with Friday’s close of 124.30/50.
Kenyan shilling stable; to weaken due to increased importer demand
After hitting a series of new lows last year, the shilling has come under pressure this year as well and that trend is set to continue this week, traders said.