Kenyan shilling slides to historic low

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The shilling has been under pressure for more than two years

Hereward Holland, Reuters News

November 10, 2023

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NAIROBI - The Kenyan shilling slid to a historic low against the dollar on Friday, LSEG data showed.

At 1027 GMT, the shilling was trading at 151.65/85 per dollar, compared with Thursday's closing rate of 151.40/60. In early trade, the shilling hit 151.80/152.00 before recouping some losses.

The shilling has been under pressure for more than two years as foreign exchange demand from oil importers and the manufacturing sector has outstripped inflows from commodity exports, offshore investors, tourism and remittances.

(Reporting by Hereward Holland; Editing by George Obulutsa

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