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Kigali, RW
November 28, 2022

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.

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