July 12, 2019 / 10:01 AM / 5 days ago

Kenya shilling expected to weaken due to importer demand, excess liquidity

Kenya Central Bank Governor Patrick Njoroge displays the newly designed Kenyan shilling bank notes during a news conference at the Central Bank in Nairobi, Kenya, June 3, 2019. REUTERS/Baz Ratner

NAIROBI (Reuters) - The Kenyan shilling was steady on Friday and was expected to weaken due to excess liquidity in the money market and increased dollar demand from oil importers, traders said.

At 0937 GMT, commercial banks quoted the shilling at 102.90/103.10 per dollar, compared with 102.85/103.05 at Thursday’s close.

Reporting by John Ndiso; Editing by George Obulutsa

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