NAIROBI (Xinhua) --
The Kenya shilling firmed against the U.S. dollar on Monday as
the market awaited the central bank’s decision on its benchmark
The apex bank’s
Monetary Policy Committee was expected to meet on Monday and set
the lending rate, which analysts predicted would be retained at
The shilling traded
at an average of 102.85 against the dollar, an increase from
102.90 in the previous session on Friday.
The East African
nation’s commercial banks quoted the currency on Monday at
between 102.70 and 102.90, an increase from 102.90 and 103.00 on
The central bank, on
the other hand, placed the currency at a high of 102.87 during
the session up from 102.89.
Forex traders noted
the shilling had gained slightly as it awaited decision of the
central bank committee on the key rate.
Against the British
pound, the shilling weakened on Monday to trade at 142.69 from
141.92 on Friday. With the bank expected to hold the rate at 10
percent, analysts noted the currency would continue surging
against the dollar in the short-term.
The shilling last
week increased against the dollar by 0.2 percent to close at
102.90, boosted by rise in inflows especially at the debt market
and the global decline in the value of the greenback.