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Kenyan shilling edges down to a new record low – Reuters

Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya/File Photo
NAIROBI, March 25 (Reuters) – Kenya's shilling inched down on Friday to a fresh all time low against the dollar, as energy firms and general importers sought hard currencies for their transactions.
At 0819 GMT, commercial banks quoted the shilling at 114.70/90 against the dollar, compared with Thursday's closing rate of 114.60/80.
The new record low follows a series of others hit this week, according to Refinitiv data, but it is still just 1.4% down for the year, outperforming other African currencies like Ghana's cedi.
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Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.