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Pain as shilling edges towards Sh160, defying Ruto's oil deal

The weakening of the local currency signals inflation and higher costs of imported goods. [iStockphoto]

Kenya's shilling fell to another record low on Tuesday as huge dollar demand by oil importers continued to weigh heavily on the local currency.

According to data from the Central Bank of Kenya (CBK), the shilling exchanged at an average of 147.6412 against the dollar.

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