Kenyan shilling nudges lower on fuel importer FX demand

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, April 25 (Reuters) - Kenya's shilling nudged lower against the dollar on Tuesday, as foreign currency demand mainly by fuel importers and companies meeting month-end demand outpaced meagre inflows, traders said. At 0857 GMT, commercial banks quoted the shilling at 135.55/75 per dollar, compared with 135.45/65 at Monday's close. The shilling has lost 9% of its value against the dollar since the start of the year, hitting a fresh low on Tuesday. (Reporting by Hereward Holland; Editing by Estelle Shirbon)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.