Kenyan shilling weakened by last minute demand

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Kenya shilling coins and notes are pictured inside a cashier's booth at a forex exchange bureau in Kenya's capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya

NAIROBI (Reuters) – The Kenyan shilling weakened against the dollar on Monday due to last minute demand from retail and oil importers buying dollars ahead of elections, traders said.

Markets will be closed on Tuesday as Kenyans go to the poll to vote for President and local officials.

At 0723 GMT, commercial banks quoted the shilling at 103.90/104.10 per dollar, compared with 103.80/104.00 at Friday’s close.

Reporting by John Ndiso; Editing by Duncan Miriri

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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