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Kenya Shiling Continues To Drop On 3rd Day On Dollar Demand From Oil Importers
Dec. 05, 2012 09:30AM PST
Oil and Gas InvestingKenya’s shilling falls for a third day, the most extensive losing streak in a month, on heightened dollar demand from oil importers.
Kenya’s shilling falls for a third day, the most extensive losing streak in a month, on heightened dollar demand from oil importers.
As quoted in market news:
The shilling, which had support from dollar inflows from the tea sector, has slightly weakened due to demand for dollars from the energy sector. With demand for dollar picking up due to the festive season, it’s expected to be on the back-foot going forward.
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