NAIROBI (Xinhua) --
The Kenya shilling gained more ground against the
U.S. dollar on Friday after crossing below the 102 mark, a
The shilling traded
at an average of 101.90 against the dollar, a slight surge from
the level it stood in the previous trading session on Thursday
The Central Bank of
Kenya placed the shilling at 101.92 on Friday, up from 102.99 of
the previous day.
The east African
nation’s commercial banks, on the other hand, quoted the
shilling at between 101.80 and 101.95, from Thursday’s range of
101.80-102.00 against the greenback.
Forex traders in
commercial institutions noted a rise in inflows, especially from
the agriculture sector, helping to steady the local currency.
Against the Sterling
Pound, the shilling fell slightly, continuing with a downward
trend to trade at 144.92, down from 144.75.
Analysts expect the
local currency to strengthen in the short term, boosted by
growing inflows, amid low demand for the dollar from retail