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The Kenyan shilling has weakened against the dollar, with commercial banks quoting rates as high as Sh137 compared to lows of Sh131.9 the previous week. Equity Bank sold dollars at Sh137, while Co-operative Bank of Kenya and Stanbic Bank quoted rates at Sh136.5. Meanwhile, the Nigerian naira has also tumbled, reaching N1,234/$ at the official market amidst speculators hoarding and declining foreign exchange reserves.
CBN releases more dollars as naira weakens to 1,300/$ https://t.co/SLX8sbmnq2
The naira weakened for a third straight day after hitting three-month highs, amid deteriorating domestic dollar liquidity after Nigeria’s foreign exchange reserves declined to a seven-year low. https://t.co/swYaBZBjde
From 9th to 23rd April, the CBK dollar rates have moved from KES 130.22 to 132.30. In the same period @Satelliteforex has moved from: 9th April: USD buying at 127 & selling at 129.5 to 23rd April: Dollar to ksh 136 & selling at 139. NCBA 23rd April: USD buy-132.00 sell-138.00… https://t.co/qVL2taJZg9
