According
to dealers, a rise in demand for dollars from oil retailing companies caused
the Kenyan shilling to lose value on Wednesday.
Commercial
banks put the shilling at 123.25/45 per dollar at 0820 GMT, up from 123.15/25
at Friday's close. Due to the Christmas and Boxing Day holidays, Kenyan
marketplaces were closed on Monday and Tuesday.
According
to Refinitiv data, the shilling sank to a new record low of 123.30/50 per
dollar earlier on Wednesday before rising.
Source: Reuters
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