Kenyan shilling eases due to increased energy sector dollar demand

NAIROBI: Kenya’s shilling weakened on Wednesday, hurt by increased importer demand for dollars, especially from the energy sector, traders said.

At 0700 GMT, commercial banks quoted the shilling at 144.50/70 per dollar, compared with Tuesday’s closing rate of 144.35/55.

Kenyan shilling loses ground; energy sector FX demand weighs

Earlier on Wednesday, the shilling touched a new all-time low of 144.55/75, Refinitiv data showed.