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Kenyan central bank sells dollars after shilling weakens

NAIROBI (Reuters) – The Kenyan central bank pumped in dollars into the market on Friday after the shilling weakened against the dollar, trader said.

The shilling had weakened to 103.55/75 per dollar, mainly due to heavy demand from clients like oil importers, prompting the central bank’s intervention. It was still trading at that level midway through the session, even after the intervention.

“We saw some demand come back then some intervention from the regulator today in the morning… demand is persistent across the board,” said a trader from a commercial bank.

Source: Reuters

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