The Kenyan shilling weakened on Monday as market participants worried about the impact of the spread of coronavirus on the economy.
At 0739 GMT, commercial banks quoted the shilling at 103.20/40 per dollar, compared with 102.95/103.15 at Friday’s close.
“Because of the coronavirus, flights have been cancelled and we don’t expect any tourism, it will also affect Diaspora remittances,” said a senior trader from one commercial bank, referring to two key sources of hard currency.
