Kenyan shilling weakens on surging importer demand

Kenya Central Bank Governor Patrick Njoroge displays the newly designed 1000 Kenyan shilling bank note(L)near the old note, during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. REUTERS/Baz Ratner

NAIROBI (Reuters) – The Kenyan shilling was under pressure on Monday as strong dollar demand by merchandise importers outstripped inflows from non-governmental organisations, traders said. At 0852 GMT, commercial banks quoted the shilling at 102.55/75 per dollar, compared with 102.45/65 at Friday’s close.

Reporting by John Ndiso; editing by Elias Biryabarema

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