Kenya Shilling Weakens 1st Day in 5 as Businesses Seek Dollars

Kenya’s shilling retreated for the first time in five days as businesses accumulate dollars at favorable levels after last week’s presidential election.

The currency of East Africa’s biggest economy weakened as much as 0.3 percent to 85.50 per dollar and was trading less than 0.1 percent lower at 85.27 dollar by 11:22 a.m. in Nairobi, according to data compiled by Bloomberg. Since the vote on March 4 through yesterday, the shilling had gained 0.9 percent.