Kenya: Shilling Falls Further Against the U.S. Dollar

The shilling weakened Wednesday, a day after the Central Bank said efforts to tame the rapid decline of the currency will take time to bear fruit.

Yesterday, increased dollar demand, especially from the energy sector, and sentiments from Central Bank Governor, Dr Patrick Njoroge, on limitations in preventing the local unit from continued weakening, saw the currency close trading at 102.75/85. This was weaker than the 101.75/85 at which it closed trading on Monday.

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