Shilling weakens on importers’ dollar demand
5 days ago, 15:17
The shilling weakened in early trading Tuesday as importer demand started creeping into the market. Commercial banks quoted the shilling at an average of 101.28/48 by midday, compared to Monday’s average of 101.05/25. The currency has been enjoying a strong run against the dollar in recent days, nosing towards the 100 level on weak dollar demand. Traders however said there was some renewed demand on Tuesday by corporates especially from oil importers, even as continued inflows from agriculture a ...
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