NAIROBI, Dec 28 (Reuters) – Kenya's shilling weakened on Wednesday, due to a build-up in demand for dollars from oil retailing companies, traders said.
At 0820 GMT, commercial banks quoted the shilling at 123.25/45 per dollar, compared with Friday's close of 123.15/25. Kenyan markets were closed on Monday and Tuesday for Christmas and Boxing Day holidays.
Earlier on Wednesday, the shilling hit a fresh record low of 123.30/50 per dollar before recovering, according to Refinitiv data.
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The portion of domestic revenues Uganda is using to service its public debt rose to 30% in the year to October from 24% in the same period two years earlier and is putting undue pressure on public finances, the central bank said.
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