NAIROBI, May 12 (Reuters) - The Kenyan shilling slid against the dollar on Friday, as manufacturers and oil importers sought limited foreign currency,
NAIROBI, May 12 (Reuters) – The Kenyan shilling slid against the dollar on Friday, as manufacturers and oil importers sought limited foreign currency, traders said.
At 0918 GMT, commercial banks quoted the shilling at 136.90/137.10 per dollar, compared with 136.75/95 at the close of Thursday’s session.
The shilling has lost about 10% against the greenback since the start of the year, hitting a new all-time low on Friday, Refinitiv Eikon data showed.
“We’ve seen some demand to pick dollars and not seen matching inflows,” said one trader at a commercial bank. “The market fundamentals point to a weaker shilling.”
Reporting by Hereward Holland
Editing by Alexander Winning
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