24.7 C
Kigali, RW
November 28, 2022
Economy

Kenya shilling weakens to record low against U.S. dollar

Kenya’s shilling slid to a record low against the dollar, widening its fall since the start of the year to 5.7 percent, as greenback supply dries up ahead of elections scheduled for Tuesday and amid rising demand for key imports.

The Kenya shilling opened Monday at 119.68 per dollar, after falling for the 14th consecutive month in July, with the longest stretch of 30-day losses on record. It recouped some losses to trade at 119.17 shillings by 1 p.m. in Nairobi.

Related posts

Bank of England warns the UK will fall into recession this year

jerome

Rwanda’s exports grow by 37 per cent

Hano News

Rwanda makes biggest interest rate rise to 6pc

Hano News

Nta mpungenge dufite ko twaremererwa n’imyenda-Guverineri Rwangombwa

Hano News

FMI: l’horizon s’assombrit pour l’économie mondiale

Hano News

Perezida Kagame yagaragaje ibisabwa ngo u Rwanda ruzagere ku ntego rwihaye za ‘Vision 2050’

Hano News

Leave a Comment