The shilling closed at Ksh 129.20 per US dollar, slipping from yesterday’s Ksh 129.24 as dollar demand remained firm.
Against the euro, it stood at roughly Ksh 149.92–150, near the weekly low following recent fluctuations to as high as KSh 151.13.
The pound traded between Ksh 172.90 and KSh 174.60, holding near the week’s weaker end.In Asia, the yen fetched about Ksh 0.868 per JPY, equivalent to 1 JPY = Ksh 0.868, or 1 Ksh ≈ 1.153 JPY.
Analysts say the shilling’s modest depreciation reflects strong demand for imports especially fuel and machinery combined with a resilient US dollar.
They warn that without a boost in foreign-exchange inflows via remittances, exports or FDI, Kenyan businesses and consumers may face ongoing cost pressures.
Written By Ian Maleve
