NAIROBI (Xinhua) --
The shilling slid against the U.S. dollar on
Tuesday, albeit slightly, as political tension gripped Kenya
over the swearing-in of opposition leader Raila Odinga as
supporters gathered in the capital Nairobi to witness the
swearing-in of their leader, an event that was expected to have
violence, but it went on smoothly, with Odinga taking a brief
The shilling traded
at an average of 102.40, a decline from where it ended on Monday
at 102.35 against the greenback.
Commercial banks in
the East African nation quoted the between 102.40 and 102.55
down from the previous day’s average of 102.35.
The Central Bank of
Kenya, however, placed the local currency at a stronger position
of 102.36 in the Tuesday trading, down slightly from 102.35.
Against the sterling
pound, the shilling as in the previous session strengthened
considerably to trade at 144.08 up from 145.7.
Analysts blamed the
slight fall of the shilling on the political tension in the
country following the standoff between the opposition and the
However, they noted
the shilling would strengthen in the following sessions due to