A currency dealer counts Kenya shillings at a money exchange counter in Nairobi
A currency dealer counts Kenya shillings at a money exchange counter in Nairobi October 23, 2008. REUTERS

The Kenyan shilling fell on Monday to a new low of 99.70 against the dollar, extending last week's losses on the back of euro weakness and concerns about domestic monetary policy-making.

The central bank stepped in on Friday to support the shilling after it fell past 99 but traders said the intervention had not been robust enough and there were concerns a policy of pumping liquidity into the money market could hurt the currency.

European union Kenya Kenya