NAIROBI: The Kenyan shilling weakened on Tuesday due to increased demand for dollars from manufacturing and oil-retailing companies that outmatched inflows from remittances and tea exporters, traders said.

At 0646 GMT, commercial banks quoted the shilling at 157.75/158.75 to the US dollar, compared with Monday’s closing rate of 157.50/158.50.

Kenyan shilling weakens due to increased importer FX demand

157.75/158.75 to the dollar is a new record low, LSEG data showed.