NAIROBI, KENYA: The Kenyan shilling lost ground on Tuesday due to dollar demand from players in the energy sector and importers of merchandise, traders said.
Commercial banks quoted the shilling at 107.15/35 per dollar, compared with 107.05/25 at Monday's close.
The shilling weakened slightly on Monday due to an uptick in dollar demand from merchandise importers after government begun a phased easing of coronavirus-induced movement restrictions last week, traders said.
Commercial banks on Monday quoted the shilling at 107.10/30 per dollar, compared with 107.00/20 at Friday's close.
Meanwhile, the Kenyan central bank’s Monetary Policy Committee will hold its next rate-setting meeting on July 29, the bank said on Tuesday.
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At its last meeting in June, the bank left its benchmark lending rate unchanged for the second time in two months at 7.0 per cent.