Kenya shilling slides past 95 units to US dollar

Kenya: The steady weakening of the shilling continued yesterday, propelled by a slight increase in dollar demand from the energy sector.

The shilling has lost 4.8 per cent of its value against the dollar this year, weighed down by a gaping current account deficit and a firmer US dollar. A spate of militant attacks have hobbled Kenya’s key tourism industry, a major source of foreign exchange, while uneven rains have hurt the horticulture sector.