Kenyan shilling dips on manufacturing demand

April 13, 2023 06:08 PM AEST | By Reuters
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NAIROBI (Reuters) - The Kenyan shilling edged lower against the dollar on Thursday as the manufacturing sector sought foreign currency to pay for imports, amid thin trading volumes, traders said.

At 0729 GMT, commercial banks quoted the shilling at 134.00/20, compared to 133.80/134.00 at Wednesday's close.

The shilling hit 134.15/35 against the dollar on Thursday morning, a record low, representing an 8% weakening this year, according to Refinitiv data.

"Since Easter we've seen suppressed trading volumes on both sides, but on my side I've seen more demand from the manufacturing sector," said one trader at a commercial bank.

(Reporting by Hereward Holland; Editing by Estelle Shirbon)


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