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Africa, Forex

Kenyan shilling under pressure against the dollar

NAIROBI (Reuters) – The Kenyan shilling weakened against the dollar on Thursday, driven by excess liquidity in the local money market amid increased dollar demand from oil and merchandise importers, traders said.

At 0644 GMT, commercial banks quoted the shilling at 102.85/103.05 per dollar, compared with 102.75/95 at Wednesday’s close.

(Reporting by John Ndiso)

Kenya Central Bank Governor Patrick Njoroge displays the newly designed 1000 Kenyan shilling bank note near the old note, during a news conference at the Central Bank in Nairobi

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