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Kenyan Shilling Dips to Record Low

NAIROBI, Oct 16 (Reuters) – The Kenyan shilling weakened to a new low against the dollar on Monday, according to LSEG data.

At 1015 GMT, the shilling was trading at 149.35/55 per U.S. dollar, compared with Friday’s closing rate of 149.20/40, the data showed.

The shilling, which has lost 17.4% of its value against the dollar since the start of the year, touched an all-time low of 149.40/60 earlier in the session.

Typically, demand for dollars comes from the energy and manufacturing sectors.

Source : Reuters