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Kenya's shilling weakens to 100 against dollar, fresh 3 and half year low

 

NAIROBI, KENYA: Kenya's shilling weakened on Monday to a fresh three-and-a-half year low, Reuters data showed, hitting the 100 level against the dollar for the first time since October 2011.

Traders said the shilling started weakening in early trade due to concerns of a widening current account deficit and on a stronger dollar globally after Greeks voted against bailout conditions demanded by their creditors.

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