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.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article