By CHARLES MWANIKIMore by this AuthorThe shilling has depreciated to a six-month low of 104 units against the dollar, raising concern the fall might spill over to inflation which is already above the desired range. News agency Reuters said dealers had attributed the weakening to heightened dollar demand from oil marketers, food importers and firms looking to pay dividend to foreign investors on their books. The shilling exchanged at an average of 104.10 to the dollar on Tuesday morning, with the #ticker:CBK indicative rate standing at 103.91 units, the lowest it has traded since mid-January. Attention now turns to the CBK’s monetary policy committee (MPC), which meets next Monday for its final sitting before the polls. The analysts said that CBK has largely intervened through withdrawal of liquidity from the money market to prevent shilling volatility in the past month.

Source: Daily Nation July 11, 2017 18:11 UTC