By Bedah Mengo NAIROBI (Xinhua) --
The Kenyan shilling lost more ground on Thursday, albeit
marginally, as demand for U.S. dollars by retail importers surged amid growing
currency traded at an average of 103.80 level against the dollar, down from
103.75 in the previous session.
Bank of Kenya placed the local unit at 103.79 down from a strong position of
103.75 on Wednesday, a 0.04-percent decline.
On the other
hand, commercial banks quoted the Kenyan currency against the greenback at
between 103.65 and 103.80 down from 103.60 and 103.80 on Wednesday.
the financial institutions noted that despite the slight drop, the shilling was
steady against the dollar as agriculture inflows, especially from the
horticulture sector, rose.
the shilling declined against the dollar 0.05 percent as analysts cited rising
importers’ dollar demand as political temperatures cooled following the
conclusion of repeat polls.
was expected to take cue from the conclusion of the polls to register positive
gains, which it did Monday but has been on the decline since.
British pound, the shilling continued on a decline trading at 137.73 on
Thursday, down from 137.44 on Wednesday, where it went down 0.58 percent.