Shilling expected to weaken against dollar

Kenya’s shilling was stable on Friday and traders said it was expected to weaken next week due to increased dollar demand from importers.

Commercial banks quoted the shilling at 102.35/45 to the dollar, the same as Thursday’s close.

“It’s very quiet. Both counters, demand and supply are very well-matched. Next week we expect the shilling to be under pressure. We will have more demand from general importers and manufacturers,” a senior trader at one commercial bank said.