Kenyan shilling weakens to all-time low on energy sector dollar demand

Kenya's shilling weakened to a new all-time low against the dollar on Wednesday due to increased importer demand from the energy sector, traders said.

Commercial banks quoted the shilling at 108.50/70 to the dollar, compared with Tuesday's close of 108.35/55.

"There is quite some demand from importers, basically people from the energy sector," a trader at one commercial bank said.