NAIROBI (Xinhua) -- The
Kenyan shilling firmed against the U.S. dollar on Friday as the market waited
for direction from the Central Bank’s monetary policy committee, which will sit
on the coming Monday.
strengthened marginally against the U.S. currency to stand at an average of
102.8 as it sustained gains witnessed this week.
Bank of Kenya (CBK) put the value of the currency against the dollar at 102.84
down from 102.87 in the previous session.
the shilling had strengthened against the dollar by 0.01 percent to close at
102.87 from 102.88 in Wednesday’s trading.
banks, on the other hand, placed the value of the shilling against the dollar at
between 102.80 and 103.0, same as it had been since Wednesday.
the currency had remained largely unmoved during the week waiting for the key
meeting. The apex bank’s advisory committee, according to analysts, is likely to
retain its base lending rate at 10 percent during the meeting on Monday.
The rate acts
a guide for many areas, including inflation index, the government securities
market and for commercial banks, which use it to determine their loan prices.
British pound, the shilling weakened Friday to close at 137.34, a continuation
of the previous day’s trend where it declined by 0.03 percent to end at 136.41.