Kenya: Kenyan Shilling Weakens Against US Dollar on Increased Foreign Currency Demand

The Kenyan Shilling weakened further against the United States Dollar on Wednesday following an increase in the demand for foreign currency. 

According to the London Stock Exchange Group (LSEG), the local currency slipped as importers and manufacturers sought more dollars to conduct their trade.

A high demand for the US currency posed pressure on the exchange rates thus causing the local unit to weaken.

As of Wednesday, September 18, the shilling traded at 129.05 compared with Tuesday’s…