Kenyan shilling weakens, seen under pressure

A fuel attendant handles Kenyan shilling notes at a petrol station in the capital Nairobi March 15, 2011. REUTERS/Noor Khamis·Reuters· (Reuters)

NAIROBI (Reuters) - The Kenyan shilling weakened on Monday, undermined by dollar demand from the manufacturing and energy sectors and traders said it would come under pressure in coming days. At 0747 GMT, commercial banks quoted the shilling at 87.10/20 to the dollar compared with Friday's close of 86.80/87.00. "The market has opened on a weaker note, after real demand from corporate clients pushed it up. (Demand is) from manufacturing and energy," said Sheikh Mehran, a senior trader at KCB Bank Group. Traders said they expected the shilling to trade in the 86.90 to 87.50 range in the days ahead. Technical analysis of the 14-day and 50-day weighted moving averages suggested the shilling would continue to weaken. In the year to date, the shilling is 0.6 percent weaker than the dollar............................Shilling spot rates.....................Shilling forward rates.......................Cross rates..................................Local contributors.......................Central Bank of Kenya Index.....................Kenyan Bonds contributor pages...............Treasury bill yields..................Central bank open market operations.........................Horizontal repo transactions,................Daily interbank lending rate.............................Kenya Bond pricing..................Real time Africa economic data ...........................African economic news .................................NSE-20 Share Index .................................NSE All Share Index ...........................FT NSE Kenya 15 Index .......................... FT NSE Kenya 25 Index SPEED GUIDES:

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