NAIROBI (Xinhua) --
The Kenya shilling was largely unmoved against
the U.S. dollar on Wednesday as the country waited for the start
of the hearing of presidential election petitions at the Supreme
The shilling traded
at an average of 103.60 against the greenback, the same level it
stood at the end of Tuesday.
The Central Bank of
Kenya placed the local unit at 103.61, from 103.62 on Tuesday, a
gain of 0.01 percent against the dollar.
Commercial banks in
the east African nation, on the other hand, quoted the currency
at between 103.55 and 103.75, with the margins remaining
Traders at financial
institutions attributed the unmoved currency to the shilling
waiting for directions from the Supreme Court, adding that it
may be affected in the coming days by rising demand of dollars
Against the British
Pound, the shilling weakened by 0.11 percent to close at 135.97
from 135.82, sustaining a negative trend that started Monday.
On a year-to-date
basis, the shilling has depreciated against the dollar by 1.2
This comes as
importers accumulated dollars due to increased political
uncertainty surrounding the elections.