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Shilling weakens against dollar after being static for 5 months
A teller handles US dollar banknotes and Kenya shilling banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya on February 16, 2024.
The shilling has weakened to its lowest level versus the dollar in over six months, as dollar supply in the market dipped on Friday, breaking a five-month run that saw the local currency remain static at between Sh129.23 and Sh129.26 against the US currency.
Official data from the Central Bank of Kenya (CBK) shows that the local unit traded at an average of Sh129.35 on Friday, with commercial banks indicating that it had edged lower to an average of Sh129.38 by Monday afternoon.
