Elevated demand of the U.S. dollar coupled with a decrease in tourism numbers and export earnings has seen the Kenyan shilling fall to a four-year low of Ksh. 105.987 at the close of market on Friday.
The shilling has been on a steady fall since Kenya
shilling edged down on Friday after the government confirmed the first case of coronavirus
pm, Commercial Banks quoted the shilling at 102.80 buying, 103.00 selling per
dollar, down from Thursday’s close of 102.40 buying, 102.60 selling.
The Kenyan shilling edged up on Thursday as demand for
dollars from importers remained subdued, traders said.
Commercial banks quoted the shilling at 100.80/101.00 per
dollar, compared with 100.95/101.15 at Wednesday's close.