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
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At 0708 GMT, commercial banks quoted the shilling at 101.55/65 to the dollar, unchanged from Tuesday's close.
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