NAIROBI (Xinhua) --
The Kenya shilling was steady against the U.S.
dollar on Wednesday as the political storm caused by the
swearing-in of opposition leader Raila Odinga as the “People’s
The local unit
traded at an average of 102.35, nearly the same level it closed
on Tuesday against the greenback at 102.37.
On the other hand,
commercial banks in the East African nation placed the local
currency at between 102.20 and 102.40, the same margin it closed
in the Tuesday trading session.
Forex traders in the
financial institutions, however, noted that the shilling was
facing pressure from surging demand for dollars from oil
To the Sterling
Pound, the shilling declined but marginally to trade at 144.66
from 144.08 in the session on Tuesday.