Kenyan shilling weakens due excess liquidity

NAIROBI, KENYA: The Kenyan shilling weakened against the dollar on Monday due to excess liquidity in the money markets and demand from merchandise importers, traders said.

Commercial banks quoted the shilling at 100.90/101.00 per dollar, compared with 100.65/85 at Friday's close.

 The weighted average interbank lending rate was quoted at 4.8646 per cent on Friday, down from 5.4492 during the previous session.

SEE ALSO : Shilling rises to its strongest level since July 2015

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Kenya ShillingUS Dollar