Monday October 29, 2018
NAIROBI, Oct 29 (Reuters) - Kenya's central bank sold dollars on Monday after the shilling weakened due to demand from the energy and manufacturing sector amid negative market sentiment to recent IMF comments on the shilling, traders said.
AT 1230 GMT, commercial banks quoted the shilling at 101.70/90 per dollar, compared with 101.35/55 at Friday's close.
"End-month demand and lack of inflows is driving the market ... the IMF report that came out last week saying that shilling is overvalued has created some sort of a panic in the market," said a senior trader from one commercial bank.