The Kenyan Shilling weakened on Friday as importers bought dollars ahead of the long weekend. The Shilling closed at 102.00/102.20 weaker than Thursday’s close of 101.85/102.05.
The local unit is expected to remain under pressure this week as demand remains strong with CBK staying off the market.
The Dollar extended gains against the other majors currencies on Friday, amid widespread expectations that the Federal Reserve will hike interest rates at the conclusion of its policy meeting this week.
The Euro dropped on Friday for the second consecutive day after the European Central Bank on Thursday said it would extend its bond-buying stimulus program for an additional nine months, even as it cut back on the size of asset purchases.
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