kenya shilling
kenya shilling

The Kenya shilling strengthened on Tuesday as demand for the dollar from importers remained low amid rising inflows.

The Kenyan currency traded at an average of 103.20 to the dollar, a considerable increase from 103.25 where it ended on Monday.

The Central Bank of Kenya in the Tuesday trading quoted the local currency at 103.21 to the dollar from 103.26 on Monday.

East African nation’s commercial banks, on the other hand, placed the currency at between 103.05 and 103.25, from 103.15 and 103.25 at the end close of trading of Monday.

Forex traders attributed the surge of the shilling to rise in dollars from investors at the debt market and charities helping to offset dollar demand from retail importers, which was also on the decline.

Similarly, to the British Pound, the shilling advanced but although marginally to 139.78 from 139.83 on Monday. Enditem

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