Kenyan shilling dips, hurt by oil importer FX appetite

Kitco Media
By Reuters
Published:
Updated:
Reuters
NAIROBI, May 11 (Reuters) - The Kenyan shilling dipped slightly against the dollar on Thursday, hurt by oil importers' appetite for hard currency, traders said. At 0842 GMT, commercial banks quoted the shilling at 136.70/90 per dollar, compared with 136.65/85 at Wednesday's close. The shilling has lost more than 20% against the dollar in the last two years, touching a new all-time low of 136.80/137.00 per dollar on Thursday morning before winning back some ground, Refinitiv data showed. "We're still seeing a little bit of (FX) demand coming through so it still looks to remain under pressure from oil importers and manufacturers," said one trader at a commercial bank.
(Reporting by Hereward Holland Editing by Alexander Winning)

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