Kenyan Shilling Hits All-Time Low Against Dollar as Energy Companies Drive Foreign Currency Demand

Mouad Boudina
Mouad Boudina
1 Min Read
Kenyan shilling

According to traders, the Kenyan shilling experienced a marginal decline against the US dollar on Tuesday, primarily influenced by energy companies’ demand for foreign currency. As of 0907 GMT, commercial banks reported an exchange rate of 136.55/75 shillings per dollar, slightly weaker compared to the previous day’s closing rate of 136.50/70.

Data from Refinitiv revealed that over the past two years, the Kenyan shilling has depreciated by more than 20% against the US dollar, reaching a new historic low of 136.70/90 shillings per dollar on Tuesday.

Mouad Boudina

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