Nairobi, Aug. 27 -- The shilling has weakened to a near five-month low against the US dollar, pressured by a faster growth in imports which has spurred a higher demand for the greenback than cash inflows from exports and Kenyans abroad.
Forex traders quoted the Kenyan currency at an average of 109.80 units against the US dollar on Thursday afternoon, marginally weaker than the 109.71 closings on Wednesday.
This was the weakest level since late March when it oscillated between 109.75 and 109.85 before appreciating slightly to a year-to-date high of 106.54 units on May 10 on expectations of loan inflows from the International Monetary Fund ($410 million or Sh45.02 billion) and the World Bank Group (Sh82.35 billion).
"The weakness is largel...