NAIROBI: The Kenyan shilling lost ground against the dollar on Wednesday, hitting a fresh all-time low due to increased foreign-currency demand from the energy and manufacturing sectors, traders said.

At 0713 GMT, commercial banks quoted the shilling at 123.75/95 per dollar, compared with Tuesday’s close of 123.60/80.

Kenya’s shilling stable, seen under pressure from manufacturers

The 123.75/95 mark is a new record low against the US currency, according to Refinitiv data.

The shilling set repeated record lows last year.