Kenya's shilling weakens to 100 against dollar, fresh 3-1/2 year low - CNBC Africa

Kenya's shilling weakens to 100 against dollar, fresh 3-1/2 year low

East Africa

by Reuters 0

Kenya's shilling weakens to 100 against dollar, fresh 3-1/2 year low. PHOTOS: AllAfrica

Kenya's shilling on Monday weakened to a fresh three and a half year low, Reuters data showed, hitting the 100 level against the dollar for the first time since Oct. 2011.

The shilling closed on Friday at 99.70/80. Traders said the shilling started weakening in early trade due to concerns of a widening current account deficit and on a stronger dollar globally after Greece vote against the bailout conditions demanded by its creditors.

At 0736 GMT, the shilling was trading at 100.05/15 against the dollar.

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