Currencies

Kenya shilling falls to lowest since mid-August on election jitters

FILE PHOTO | NMG
FILE PHOTO | NMG 

The Kenyan shilling dropped to 103.75/85 per dollar on Monday, its lowest level since mid-August, mainly due to concerns about potential violence during a repeat presidential scheduled for Oct. 26, traders said.

They said the drop prompted the central bank to intervene, pumping in dollars to curb the volatility.

The shilling had closed Thursday’s session at 103.20/40 per dollar. The shilling had closed Thursday’s session at 103.20/40 per dollar.

Markets were closed on Friday for a public holiday.