NAIROBI, April 5 (Reuters) - The Kenyan shilling inched lower against the dollar on Wednesday, as manufacturers
sought muted supplies of foreign exchange, traders said.
Persistent unmatched foreign exchange demand from fuel
importers and the manufacturing industry has caused the shilling
to lose 7.4% of its value against the greenback this year,
according to Refinitiv data.
At 0901 GMT, commercial banks quoted the shilling at
133.10/30, compared to Tuesday's close of 132.90/133.10.
The market has seen increased liquidity in the last three
weeks thanks to the restoration of the long-dormant interbank
market, although not yet at sufficient levels to stabilise the
local currency, traders said.
"We've been able to get some liquidity on the interbank, but
the activity isn't yet back at the level seen before the COVID
pandemic. It's a positive step," said a trader at one commercial
bank.
(Reporting by Hereward Holland; Editing by Bhargav Acharya)
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