The Kenyan shilling was on a firm footing on Wednesday but traders said a typical end-month uptick in dollar demand from oil importers and manufacturers shipping raw materials was giving the local currency a weakening bias.
Shilling seen on the back foot, pressured by end-month demand
At 0708 GMT, commercial banks quoted the shilling at 101.55/65 to the dollar, unchanged from Tuesday's close.
A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya
At 0708 GMT, commercial banks quoted the shilling at 101.55/65 to the dollar, unchanged from Tuesday's close.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Ibadan philanthropist donates 2 transformers to support Makinde’s govt
Deputy Senate President: What Barau Jibrin will bring to the 10th Assembly
Akeredolu immortalises victims of Owo Church attack with memorial park
BREAKING: Court restrains NLC, TUC from going on strike
Judge frowns on invasion of his privacy over Stella Oduah's ₦5bn fraud case
Governor Mbah begs Enugu residents to fight IPOB's sit-at-home intimidation
Amaewhule emerges as Speaker of Rivers 10th Assembly
Suspected political thugs assault PDP chieftain as tribunal sits in Ogun
Yahaya Bello dissolves 7th Kogi Assembly
ADVERTISEMENT