East Africa

The Kenyan shilling is under pressure, here’s why

PUBLISHED: Mon, 29 Jul 2019 14:06:37 GMT

NAIROBI (Reuters) – The Kenyan shilling was under pressure on Monday due to end month dollar demand from the energy and manufacturing sector amid excess liquidity in the local money market, traders said.

At 0755 GMT, commercial banks quoted the shilling at 103.85/104.05 per dollar, compared with 103.75/95 at Friday’s close.

Reporting by John Ndiso; Editing by Omar Mohammed

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