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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya shilling hits 20-month high against U.S dollar

NAIROBI (Xinhua) -- The Kenya shilling strengthened on Thursday to exchange against the U.S. dollar at a highest level since June 2016.

The Central Bank of Kenya Wednesday quoted the local currency at 101.00 per dollar, a 20-month high. This is a rise from 101.30 in the previous session.

Commercial banks, on the other hand, put the shilling at between 100.70 and 100.90, an increase from Wednesday’s margins of 100.80 and 101.10.

Forex traders in the financial institutions noted there was sustained increase in inflows from the agriculture sector and remittances from Kenyans in diaspora.

Against the Sterling Pound, the shilling similarly went up albeit marginally to trade at 140.49 from 140.51 on Wednesday.

             

 

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