Nairobi, Sept. 3 -- The shilling has depreciated to a seven-month low against the US dollar, partly hurt by depressed inflows from tourism and tea amid a recovering economy which has pushed up demand for imports.
Forex traders were Thursday afternoon quoting the local currency exchanging at 110.09 units against the green-back, largely unchanged from 110.03 closing levels on Wednesday.
The exchange levels are, however, the weakest since February 3 when the shilling sold for 110.11 units versus the dollar.
Currency traders said the shilling continues to be pressured by a widening gap between supply and demand of the US dollars due to a faster growth in imports than exports.
A weaker shilling means importers, who largely transacts in dolla...