Kenyan shilling edges down to a new record low

Kenya's shilling inched down on Friday to a fresh all time low against the dollar, as energy firms and general importers sought hard currencies for their transactions.

At 0819 GMT, commercial banks quoted the shilling at 114.70/90 against the dollar, compared with Thursday's closing rate of 114.60/80.

The new record low follows a series of others hit this week, according to Refinitiv data, but it is still just 1.4% down for the year, outperforming other African currencies like Ghana's cedi.