NAIROBI: Kenya’s shilling was stable on Thursday, and traders said they expected it to weaken due to increased demand for dollars from manufacturing companies and oil retailers.

At 0712 GMT, commercial banks quoted the shilling at 123.75/95 per dollar, unchanged from Wednesday’s closing rate.

Kenyan shilling eases to new low; energy sector driving dollar demand

Earlier in the session, the shilling touched a fresh all-time low of 123.80/124.00, Refinitiv data showed.

The shilling hit repeated record lows last year.